An investment project has annual cash inflows of 25,000 one year from now, 40,400 two years from now, 53,000 three years from now and 59,500 four years from now, and a discount rate of 14 per cent.

What is the discounted payback period for these cash flows if the initial cost is 119,000? (Round your answer to 2 decimal places (e.g., 32.16).)