Question: 3. Crimson Inc. is considering a project with an initial cost of $39,000. The project will produce cash flows of $12,000 in year 1,$13,200 in

3. Crimson Inc. is considering a project with an initial cost of $39,000. The project will produce cash flows of $12,000 in year 1,$13,200 in year 2,$14,400 in year 3 , and $10,000 in year 4. (a) (1.5 points) What is the payback period? (b) (0.5 point) Should the project be accepted, given a payback cutoff of 3 years? Why

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