Compute the discounted payback statistic for Project C if the appropriate cost of capital is 7 percent and the maximum allowable discounted payback period is three years. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Project C

Time: 0 1 2 3 4 5

Cash flow $2,300 $1,000 $870 $910 $560 $360

Discounted payback period years