Use Excel for this question: Using a $4\%$ discount rate, what is the discounted payback period for the following cash flow?

Time $0$: $-$$$1,300$

Time $1$: $$300$

Time $2$: $$390$

Time $3$: $$430$

Time $4$: $$480$

Time $5$: $$540$

$3\mathrm{.}65$ years

$3\mathrm{.}56$ years

$3\mathrm{.}90$ years

$3\mathrm{.}12$ years