Compute the Discounted Payback statistic for Project X and recommend whether the firm should accept or reject the project with the cash flows shown below if the appropriate cost of capital is 14 percent and the maximum allowable discounted payback is 3 years.

Time:	0	1	2	3	4	5
Cash flow:	-960	460	520	440	340	190

Compute the PI statistic for Project X and note whether the firm should accept or reject the project with the cash flows shown below if the appropriate cost of capital is 11 percent.

Time:	0	1	2	3	4	5
Cash flow:	-83	-83	0	108	83	58