A project has the following cash flows:

Year Project Cash Flows

0 -$4,450.00

1 $2,134.00

2 $2,134.00

3 $2,134.00

4 $2,134.00

Its cost of capital is 10 percent. What is the projects discounted payback period?

2.47 years

2.67 years

2.27 years

2.07 years

1.87 years