An investment project requires a net investment of $100,000. The project is expected to generate annual net cash inflows of $28,000 for the next 5 years. The firm's cost of capital is 12 percent. Determine whether you would accept or reject the project using the discounted payback period method. The company rejects projects that exceed a discounted payback period of over 3 years.

4.94 years, Reject the project

2.5 years, accept 4.09 years,

accept 1.43 years,

accept You cannot calculate discounted payback from the information given.