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You are considering a project with the following free cash flows: YEAR PROJECT CASH FLOW 0 -$60,000 1 25,000 2 25,000 3 25,000 4 25,000

You are considering a project with the following free cash flows:

YEAR "PROJECT CASH FLOW" 0 -$60,000 1 25,000 2 25,000 3 25,000 4 25,000

If the appropriate discount rate is 11 percent, what is the project's discounted payback period? (Round to two decimal places.)

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