You are considering three independent projects: project A, project B, and project C. Given the cash flow information in the popup window, calculate the payback period for each. If you require a 3-year payback before an investment can be accepted, which project(s) would be accepted?

Initial Outlay -1,100 -10,000 -5,500 Inflow year 1 600 4,000 2,000 Inflow year 2 300 4,000 2,000 Inflow year 3 100 4,000 4,000 Inflow year 4 200 4,000 4,000 Inflow year 5 500 4,000 4,000