Compute the payback statistic for Project B if the appropriate cost of capital is 12 percent and the maximum allowable payback period is three years. (If the project never pays back, then enter a "0" (zero).)

Project B
Time:	0	1	2	3	4	5
Cash flow:	$11,900	$3,440	$4,360	$1,700	$0	$1,180

Payback = ? years

Should the project be accepted or rejected? multiple choice

• accepted

• rejected