You are evaluating a project that will cost $ $504000,$ but is expected to produce cash flows of $ $128000$ per year for $10$years$,$ with the first cash flow in one year. Your cost of capital is $11\mathrm{.}1\%$ and your$$ company's preferred payback period is three years or less.

a$.$ What is the payback period of this$$ project?

b$.$ Should you take the project if you want to increase the value of the$$ company?