30. A capital budgeting project costs $9,000. The project will yield the following cash flows: year 1 - $3,500; year 2 - $3,600; year 3 - $3,700; year 4 - $2,600. What is the payback for this project? Assume the company's required return rate is 10%.

a.3.21 years

b.2.51 years

c.4.15 years

d.23 years

29.If the NPV of a prospective project is negative, the project should be accepted. Since NPV is negative, the project would be accepted because total cash flows may be zero.

a.True

b.False