Compute the discounted payback statistic for Project C if the appropriate cost of capital is 7 percent and the maximum allowable discounted payback period is three years. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Project C Time: Cash flow: 0 -$2,600 1 $1,120 2 $960 3 $1,000 4 $620 5 $420 > Answer is complete but not entirely correct. Discounted payback period 2.36 years