Question: Compute the payback statistic for Project B if the appropriate cost of capital is 12 percent and the maximum allowable payback period is three years.

Compute the payback statistic for Project B if the appropriate cost of capital is 12 percent and the maximum allowable payback period is three years. (Round your answer to 2 decimal places. If the project never pays back, then enter a "0" (zero).)
Project B
Time: 0 1 2 3 4 5
Cash flow $11,600 $3,410 $4,300 $1,640 $0 $1,120 Payback years Should the project be accepted or rejected?

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