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 $9$ percent, and that the maximum allowable payback and discounted payback statistics for the project are $2\mathrm{.}0$ and $3\mathrm{.}0$ years, respectively.

Time: $0123456$

Cash flow: $$$ $4,400$ $ $1,100$ $ $2,300$ $ $1,500$ $ $1,500$ $ $1,300$ $ $1,100$

Use the discounted payback decision rule to evaluate this project.

Note: Round your answer to $2$ decimal places.