Question: Compute the payback statisticfor Project B if the appropriate cost of capital is 11 percent and the maximum allowable payback period is three years. (Round

Compute the payback statisticfor Project B if the appropriate cost of capital is 11 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 -$12,300 $3,480 $4,440 $1,780 $0 $1,260

Payback ______years

Should the project be accepted or rejected?

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