Compute the discounted payback statistic for Project C if the appropriate cost of capital is 6 percent and the maximum allowable discounted payback period is three years. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

PROJECT C
TIME	0	1	2	3	4	5
CASH FLOW	-$2,900	$1,240	$1,050	$1,090	$680	$480

DISCOUNTED PAYBACK PERIOD ___________ YEARS