• 2.00.

• 3.99.

• 3.37.

• 2.99.

• 4.08.

Porter Company is analyzing two potential investments. Project X $ 97,090 Project Y $ 77,000 Initial investment Net cash flow: Year 1 Year 2 Year 3 Year 4 32,500 32,500 32,500 5,700 34,500 34,500 25,000 The payback period in years (rounded to 2 decimal places) for Project X is