Compute the payback statistic for Project B if the appropriate cost of capital is 11 percent and the maximum allowable payback period is three years.

Project B

Time:	0	1	2	3	4	5
Cash flow:	$ 12,600	$ 3,510	$ 4,500	$ 1,840	$ 0	$ 1,320

Should the project be accepted or rejected?

Note: If the project never pays back, then enter a "0" (zero).