Red Plc has identified a capital investment project with the following schedule of incremental cash flows:

Time 0: investment of 400,000 (outflow)

Time 1: inflow of 120,000

Time 2: inflow of 140,000

Time 3: inflow of 90,000

Time 4: inflow of 60,000

What is the payback period for this project?

		2.16 years
		2.83 years
		3.83 years
		3.16 years