A manufacturing company is considering a 3 year project that cost $75,000. The project will generate after tax cash flows of $33,100 in year 1, $31,500 in year 2, $ $31,200 in year 3. Assume the firm proper rate of discount is 10% and that the forms tax rate if 40%. What is the projects payback? Is this an acceptable project if managements required payback is 2 years?