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 3.5 and 4.5 years, respectively

Time:	0	1	2	3	4	5	6
Cash flow	$5,000	$1,270	$2,470	$1,670	$1,670	$1,470	$1,270

Use the discounted payback decision rule to evaluate this project. (Round your answer to 2 decimal places.)

Discounted payback

years