Compute the payback statistic for Project B if the appropriate cost of capital is 10 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).) P

Compute the payback statistic for Project B if the appropriate cost of capital is 10 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

–$12,900

$3,540

$4,560

$1,900

$0

$1,380

  Payback

 years  

Should the project be accepted or rejected?