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	$12,000	$3,450	$4,380	$1,720	$0	$1,200

Discounted payback period=

Should the project be accepted or rejected?

	Accepted
	Rejected