10.

(Discounted payback period) Assuming an appropriate discount rate of 9 percent, what is the discounted payback period on a project with an initial outlay of $100,000 and the following free cash flows? Year 1=$20,000 Year 2=$30,000 Year 3=$35,000 Year 4=$20,000 Year 5=$20,000 Year 6=$40,000 (Click on the following icon in order to copy its contents into a spreadsheet.) The project's discounted payback period is years. (Round to two decimal places.)