Nugent Communication Corp. is investing $11,044,145 in new technologies. The company expects significant benefits in the first three years after installation (as can be seen by the following cash flows), and smaller constant benefits in each of the next four years.

	Year
		1		2		3		4-7
Cash Flows		$2,356,730		$4,016,233		$3,974,613		$1,379,250

What is the discounted payback period for the project assuming a discount rate of 10 percent?