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6 10 10 points Problem 13-23 Payback (LG13-2) Suppose your firm is considering investing in a project with the cash flows shown below, that

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6 10 10 points Problem 13-23 Payback (LG13-2) Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on projects of this risk class is 13 percent, and that the maximum allowable payback and discounted payback statistics for your company are 2.5 and 3.0 years, respectively. Time: 0 1 2 3 4 5 Cash flow: -$225,000 $64,800 $83,000 $140,000 $121,000 $80,200 Use the payback decision rule to evaluate this project. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Payback 3.52 years

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