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	$2,900	$1,240	$1,050	$1,090	$680	$480

What is the discounted payback period?