Comparing payback period and discounted payback period. Nielsen, Inc. is switching from the payback period to the discounted payback period for small-dollar projects. The cutoff period will remain at three years. Given the following four projects' cash flows,, and using a discount rate of 8%, determine which projects it would have accepted under the payback period and which it will now reject under the discounted payback period. Data table (Click on the following icon in order to copy its contents into a spreadsheet.) Cash Flow Initial Cost Project 1 $12,000 Project 2 Project 3 Project 4 $14,000 $8,000 $24,000 Year 1 $5,000 $7,000 $3,000 $14,000 Year 2 $5,000 $5,500 $3,500 $12,000 Year 3 $5,000 $4,000 $4,000 $ 0 - k period method? (Select the best response.)