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 2.5 and 3.5 years, respectively.

Time:0 1 2 3 4 5 6

Cash flow: $4,700 $1,130 $2,330 $1,530 $1,530 $1,330 $1,130

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

Payback ________ Years