ABC Pty. has identified an opportunity in the market. The project requires an investment of R15096 in year 0 and no residual value after 3 years.

Estimated future cash flows for the project are shown below in Rand. The company's required rate of return is 100*0.209%. Taxation can be ignored.

Year	1 *****	2 *****	3 *****
Project 1 Rand Income:	12908***	12908***	13 000***

What is the discounted payback of the project at the required rate of return? Interpolate to find the year fraction, i.e. 1 year and 9 months will be 1.7500. Write your answer including four decimal places.