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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.

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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: Cash flow: 1 0 -$12,200 $3,470 2 $4,420 3 $1,760 4 $0 5 $1,240 Payback years Should the project be accepted or rejected? O accepted Orejected

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