Compute the payback statistic for project a if the

Question

Compute the payback statistic for Project A if the appropriate cost of capital is 8 percent and the maximum allowable payback period is four years. (Round your answer to 2 decimal places.) Project A Time:

0              1                  2                  3                        4                           5

-$2500   $950            $930            $820                 $600                     $400

Number of Payback years?