Compute the payback statistic for Project B if the appropriate cost of capital is 11 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: –$11,400 $3,390 $4,260 $1,600 $0 $1,080
Payback years? ___________
Should the project be accepted or rejected?
Accepted
Rejected