Kerin Enterprises has a project which has the following cash flows:

YEAR CASH FLOWS

0-( -R200 000)

1- 50 000

2- 100 000

3- 150 000

4- 40 000

The required rate of return is 10%. What is the projects discounted payback period (DPB)? Hint: Use rounded numbers, i.e. no decimal points.