Use the information to answer the following questions. A company is analyzing an independent project whose cash flows are shown below:

The companys cost of capital is 9%, and it can get an unlimited amount of capital at that cost. What is the discounted payback period for the project?

2.67 years

3.20 years

2.33 years

2.99 years

2.76 years

\begin{tabular}{|l|l|l|l|l|l|} \hline & \multicolumn{1}{|c|}{ Year 0 } & \multicolumn{1}{|c|}{ Year 1 } & \multicolumn{1}{|c|}{ Year 2 } & \multicolumn{1}{|c|}{ Year 3 } & \multicolumn{1}{|c|}{ Year 4 } \\ \hline Cashflow & -100 & 60 & 35 & 30 & 20 \\ \hline \end{tabular}