ter 12 Homework Saved Help Save & EX 3 Chec Your company is considering a new project that will require $821,000 of new equipment at the start of the project. The equipment will have a depreciable life of 8 years and will be depreciated to a book value of $149,000 using straight-line depreciation. The cost of capital is 11 percent, and the firm's tax rate is 30 percent Estimate the present value of the tax benefits from depreciation (Round your answer to 2 decimal places.) Present values 8.229.00 Compute the discounted payback statistic for Project C if the appropriate cost of capital is 9 percent and the maximum allowat discounted payback period is three years. (Do not round intermediate calculations and round your final answer to 2 decima places.) Project Time: Cashflow: -$1,500 $680 2 $638 $670 $400 $200 Discounted payback period years Should the project be accepted or rejected? accepted O rejected