A Company is considering building a project in Beijing, China. Because of the political risk involved in investing in China, the company wants a short payback period. The cash flows are estimated as follows:
Year Cash Flows
0 -$3,000,000
1 $250,000
2 $500,000
3 $750,000
4 $750,000
5-20 $750,000
Assuming a 10% discount rate, what is the discounted Payback period for this project?