Haig Aircraft is considering a project that has an up-front cost paid today at t=0. The project will generate positive cash flows of $46,358 a year at the end of each of the next 4 years. The project's NPV is $37,981 and the company's WACC is 8.2\%. What is the project's regular payback? 2.78 years 3.08 years 2.18 years 3.38 years 2.48 years