Compute the discounted payback statistic for Project C if the appropriate cost of capital is 8 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: 3 4 -$1,600 $720 $660 $700 $420 $220 Cash flow: Discounted payback period years Should the project be accepted or rejected