Find the Discounted Payback period for the following project. The discount rate is 6%

	Project X
Initial Outlay	$8,196
Year 1	$3,895
Year 2	$3,838
Year 3	$5,498
Year 4	$6,764

Round the answer to two decimal places.

Answer: I got a different answer but my prof. got 2.24

(2.24)