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:	$ 1,400	$ 640	$ 600	$ 640	$ 380	$ 180

Should the project be accepted or rejected?

(Click to select) Accepted Rejected