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 and round your final answer to $2$ decimal places.$)$

$\backslash$table$[[$Project C$,,,,,,],[$Time:$,0,1,2,3,4,5],[$Cash flow:,$-$$$1,100,$$$520,$$$510,$$$550,$$$320,$$$120$