Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on projects of this risk class is $7$ percent, and that the maximum allowable payback and discounted payback statistics for the project are $3\mathrm{.}5$ and $4\mathrm{.}5$ years, respectively.

Time: $0123456$

Cash flow: $$$$6,200$ $$1,160$ $$2,360$ $$1,560$ $$1,560$ $$1,360$ $$1,160$