A firm is starting a new project that will cost $200,000. It is projected to last 5 years and to generate cash flows of $50,000,$70,000,$90,000,$50,000 and $30,000 from Years 1 through 5 respectively. If the discount rate is 10%, what is the payback perioc of this project? Round to the second decimal place. Type only numbers without any unit (\$, \%, etc.)