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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.

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. (Round your answer to 2 decimal places. 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 Payback years

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