Sheridan Communication Corp. is investing $9,984,700 in new technologies. The company's management 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: $1,940,000. Year 2: $5,012,000. Year 3: $3,956,100. Years 4-7: 1,524,500

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