Compute the payback statistic for Project A if the appropriate cost of capital is 7 percent and the maximum allowable payback period is four years. (Round your answer to 2 decimal places.)

Project A
Time:	0	1	2	3	4	5
Cash flow:	$2,300	$870	$870	$780	$560	$360

Should the project be accepted or rejected?

multiple choice

• accepted

• rejected