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 2.5 and 3.5 years, respectively. Time: Cash flow: 1 $1,170 2 $2,370 3 $1,570 4 $1,570 5 $1,370 6 $1,170 -$4,700 Use the payback decision rule to evaluate this project. (Round your answer to 2 decimal places.) Payback years