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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.

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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. (If the project never pays back, then enter a "O" (zero).) Project B Time: Cash flow: 0 -$12,000 1 $3,450 2 3 $4,380 $1,720 5 $1,200 $0 Payback years Should the project be accepted or rejected? O accepted O rejected

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