An investment project has annual cash inflows of $4,500, $3,800, $5,000, and $4,200, for the next four years, respectively. The discount rate is 15 percent.

1.) What is the discounted payback period for these cash flows if the initial cost is $5,600?

2.) What is the discounted payback period for these cash flows if the initial cost is $7,700?

3.) What is the discounted payback period for these cash flows if the intitial cost is $10,700?