Compute the discounted payback statistic for Project D if the appropriate cost of capital is 11 percent and the maximum allowable discounted payback is four years. (Do not round intermediate calculations and round your final answer to 2 decimal places. If the project does not pay back, then enter a "0" (zero).)

Project D
Time:	0	1	2	3	4	5
Cash flow	$12,300	$3,480	$4,440	$1,780	$0	$1,260

Discounted payback period

Should the project be accepted or rejected?

	Accepted
	Rejected