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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 Year

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: 21,349 What is the payback period for this project? Round your answer to the nearest two decimal places

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