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Compute the payback statistic for Project A if the appropriate cost of capital is 9 percent and the maximum allowable payback period is four years.

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Compute the payback statistic for Project A if the appropriate cost of capital is 9 percent and the maximum allowable payback period is four years. (Round your answer to 2 decimal places.) Project A Time: Cash flow: 1 -$3,000 $1,150 2 $1,080 3 $920 $700 5 $500 Payback years Should the project be accepted or rejected

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