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.

Note: 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:	$ 2,600	$ 1,120	$ 960	$ 1,000	$ 620	$ 420

Discounted payback period = ?days

Should the project be accepted or rejected?

(Click to select) Accepted Rejected