estion 14 CHAPTER 8: The cash flows associated with an investment project are as follows: Initial Outflow: $70,000 Year 1 Inflow: $20,000 Year 2 Inflow: $30,000 Year 3 Inflow: $30,000 Year 4 Inflow: $30,000 What is the payback period of the project? If a firm's cutoff payback period is 3 years, should it accept the project? O a. 2.7 years : reject the project Ob 2.7 years: accept the project O c. 3.6 years : reject the project Od.3.6 years: accept the project