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. Round your final answer to 2 decimal places.)

Project C Time: 0 1 2 3 4 5

Cash flow $2,700 $1,160 $990 $1,030 $640 $440

Discounted payback period years:______