A firm considers an investment whose cost is $ 3 000 000 which is paid in 2020. The aspected cash flows from the investment or as follows: 2021 $ 500 000 2022 $ 700 000 2023 $ 1 000 000 2024 $ 1 000 000 2025 $ 800 000 2026 600 000 The firm's desired target payback period is 3 years which means that tim oecepts all projects with a payback period less than a year Questionz Consider the same investment given the cost and expected cash flows from the table above using a reduced potock period. a) What is the exact payback period of that investment according to the discounted payback method of the relevant discount rate for that investment is 14% b) should the firm accept or reject this investment if the desired payback period of the investment is 3 years