Compute the payback statistic for Project A if the appropriate cost of capital is 7 percent and the maximum allowable payback period is four years. (Round your answer to 2 decimal places.) Project A Time: Cash flow: 4 0 -$2,900 1 $1,110 2 $1,050 3 $900 $680 5 $480 Answer is complete but not entirely correct. Payback 2.77 X years