The Drake Company has decided to invest in a project that is expected to produce the following cash flows: $6,000 in year 1, $8,000 in year 2 and…

The Drake Company has decided to invest in a project that is expected to produce the following cash flows: $6,000 in year 1, $8,000 in year 2 and $4,000 in year 3. The project would require a $14,500 investment. What is the cash payback period of the project? Round your final answer to two decimal places.