Compute the discounted payback statistic for Project C if the appropriate cost of capital is 7 percent and the maximum allowable discounted payback period is three years. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Project C
Time:	0	1	2	3	4	5
Cash flow	$1,700	$760	$690	$730	$440	$240

Discounted payback period

______ years

Should the project be accepted or rejected?

	Rejected
	Accepted