The LoveLivingInParadise Company wants to calculate how long it will take to recover their initial investment on a project. The end-of-year cash flows are estimated to be: Cost $30,000 Year 1 $5,000 Year 2 $15,000 Year 3 $12,000 Year 4 $ 8,000 What is the payback period? (Give partial year to two decimal places. SHOW ALL WORK FOR FULL CREDIT.