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.

$\backslash$table$[[$Time:$,0,1,,,,,,],[$Cash flow:,$-$$$4,800,$$$1,210,$$$2,410,$$$1,610,$$$1,530,$$$1,410,$$$1,210,]]$

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