Please help and explain

Year	0	1	2	3	4	5	6
Cash Flow	-110000	30000	40000	20000	40000	20000	20000

Given the cash flows in the table above, calculate the payback period assuming the cash flows in years 1 to 4 occur evenly throughout the year. The required rate of return is 12%.

Answer in years accurate to two decimal places.