(Discounted

payback

period)

Gio's Restaurants is considering a project with the following expected cash flows:

Year	Project Cash Flow (millions)
0	$(120)
1	100
2	65
3	100
4	90

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spreadsheet.)

If the project's appropriate discount rate is

12

percent, what is the project's discounted payback period?

The project's discounted payback period is

enter your response here

years.(Round to two decimal places.)