A project has the following cash flows:

Project

Year

$0$

$1$

$2$

$3$

$4$

Cash Flows

$-$$$4,893\mathrm{.}00$

$$2,242\mathrm{.}00$

$$2,242\mathrm{.}00$

$$2,242\mathrm{.}00$

$$2,242\mathrm{.}00$

Its cost of capital is $9\mathrm{.}8$ percent. What is the project's discounted payback period?

$2\mathrm{.}29$ years

$1\mathrm{.}69$ years

$1\mathrm{.}99$ years

$2\mathrm{.}89$ years

$2\mathrm{.}59$ years

$1$ pts