You are evaluating a $4-$year project, and its cash flows are $($$$70,000),$ $$25,000,$ $$21,000,$ $$21,000,$ $$25,000$ for years $0$ to $4,$ respectively. What is the project's payback period? Note the number in $()$ means negative.

Question $9$ options:

$1\mathrm{.}63$

$1\mathrm{.}96$

$2\mathrm{.}26$

$2\mathrm{.}61$

$2\mathrm{.}80$

$3\mathrm{.}12$