A project that costs $3,100 to install will provide annual cash flows of $660 for the next 6 years. The firm accepts projects with payback periods of less than 5 years.

a-1.	What is this project's payback period? (Round your answer to 3 decimal places.)

Payback period

years

a-2.

Will the project be accepted?

	Yes
	No

b-1.	What is project NPV if the discount rate is 2%? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

NPV

$

b-2.

Should this project be pursued?

	Yes
	No

b-3.	What is project NPV if the discount rate is 12%? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.)

NPV

$