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Coffer Co. is analyzing a project. It has the following information: Cost: $55,000 Net Cash Inflows: Year 1: 2,000 Year 2: 25,000 Year 3: 25,000

Coffer Co. is analyzing a project. It has the following information:

Cost: $55,000

Net Cash Inflows:

Year 1: 2,000

Year 2: 25,000

Year 3: 25,000

Year 4: 17,460

What is the payback period for this project? Round your answer to the nearest two decimal places.

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