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:	0	1	2	3	4	5
Cash flow:	$3,000	$1,150	$1,080	$920	$700	$500

Should the project be accepted or rejected?

• accepted

• rejected