Question $14$

$5$ pts

Canadian Pacific is considering a project that has an initial cash outflow of $$1,275,$ and expected cash inflows of $$500$ in years $1,2,$ and $3.$ What is the project's payback?

Your answer should be between $2\mathrm{.}15$ and $2\mathrm{.}90$ years, rounded to $2$ decimal places, with no special characters.