Compute the discounted payback statistic for Project C if the appropriate cost of capital is 8 percent and the maximum allowable discounted payback period is three years. (Do not round intermediate calculations. Round your final answer to 2 decimal places)

Time:	0	1	2	3	4	5
Cash Flow:	-$1000	$480	$480	$520	$300	$100

Discounted payback period = ? years