A project has an initial cost of $200,000. Further, it is expected to bring in the following cash flows: $45,000 in year 1; $50,000 in year 2; $75,000 in year 3; $100,000 in year 4. Assume that WACC is 18%, and the firm wants to recover its initial investment in 3.75 years. What is the payback period and would the firm accept the project based on the payback period?