Assume an investment project has an initial cost of $8,000 to cover the purchase of new equipment. It is estimated the new equipment will bring in an additional cash flow for the next four years. The expected annual cash flow from the use of the equipment is a positive cash flow of $7,000 for Year 1, $7,500 for Year 2, $8,000 for Year 3, and $8,500 for Year 4. These cash flows are entered in the Table below.

Year	Cash Flow	PV Cash Flow	Cumulative
0	-8000
1	7000
2	7500
3	8000
4	8500

Given the companys wacc =14%, calculate the Discounted Payback Period for this investment project._____________(Show your work.)

Given the companys criteria is 2.5 years, based on the Discounted Payback Period will the company accept or reject this project.