Siegmeyer Corp. is considering a new inventory system, Project A will cost $2,400,000. The system is expected to generate positive cash flows over the next four years in the amounts of $700,000 in year one, $900,000 in year two, $1,000,000 in year three, and $1,200,000 in year four. Siegmeyers required rate of return is 16%. what is the payback period of this project?