7. A project has the following cash flows: Under which of the following cost of capital would you be willing to accept the project based on the IRR rule? You'll accept the project when the cost of capital is either 8% or 12%. 12% 8% 16% 8. What is the payback period for the project in question #7? 3.4 years 4.5 years 3.0 years 3.2 years