Compute the payback statistic for Project B if the appropriate cost of capital is 11 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:	$12,000	$3,450	$4,380	$1,720	$0	$1,200

Should the project be accepted or rejected?

multiple choice

• accepted

• rejected