An investment project requires a net investment of $100,000. The project is expected to generate annual net cash inflows of $28,000 over the next 5 years. The firm's cost of capital is 12 percent. 

Determine whether you would accept or reject the project using the discounted payback method. The company rejects projects that exceed a discounted payback period of more than 3 years.

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The discounted payback method is a capital budgeting technique that calculates the time required for ... View the full answer