You are analyzing a proposed project and have compiled the following information:
Year Cash flow
0 -$145,000
1 $ 33,400
2 $ 70,500
3 $ 82,100
Required payback period 3 years
Required return 9.50 percent

Should the proposed project be accepted based on the payback period? Why or why not?

		yes; The payback period is greater than the required payback period.
		yes; The payback period is less than the required payback period
		no; The payback period is greater than the required payback period.
		no; The payback period is less than the required payback period.
		Not enough information to answer