Compute the discounted payback statistic for Project C if the appropriate cost of capital is 7 percent and the maximum allowable discounted payback period is three years. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Project C Time : Cash flow: 0 -$1,400 1 $640 2 $600 3 $640 4 $380 5 $180 Discounted payback period years Should the project be accepted or rejected? accepted O rejected