A firm is considering an investment project.The project requires an initial investment of $500,000 and will have no residual value at the end of 5 years.The cost of capital (borrowing) is 10%.The project will generate the following profits: Year 1 $50,000 Year 2 $100,000 Year 3 $150,000 Year 4 $150,000 Year 5 $150,000 What will be the payback period for this project (in year's to two decimal places) If the firm has established a payback period of 4 years, should the project be accepted?