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. Round your final answer to 2 decimal places.)

Project C
Time:	0	1	2	3	4	5
Cash flow	$2,500	$1,080	$930	$970	$600	$400

Discounted payback period

years

Should the project be accepted or rejected?