Investments of $2000 and $2500 need to be made at time 0 and time 1 respectively into a certain project. (In this question, time is measured in years.) The project will generate cash inflows of amounts $1500, $3500, $2000 and $1500, which will take place at times 2, 5, 8 and 10 respectively. You are given that the annual effective rate of interest is 7%. Determine the discounted payback period.