You are consider a project with an initial investment of $1,700,000. The predicted cash flows of the project for the following 4 years are:

Year 1: $800,000

Year 2: $800,000

Year 3: $400,000

Year 4: $200,000

What is the payback period? Do not discount the cash flows.

Group of answer choices

2.25

2.29

2.22

2.11

2.33