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Compute the payback statistic for Project B if the appropriate cost of capital is 10 percent and the maximum allowable payback period is three years.

Compute the payback statistic for Project B if the appropriate cost of capital is 10 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 $12,900 $3,540 $4,560 $1,900 $0 $1,380

Payback: _____ years

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