Following is the set of cash flows from Project B which has a cost of capital of 13 percent and the maximum allowable payback period is three years. (If the project never pays back, then enter a "0" (zero).)

Project B
Time:	0	1	2	3	4	5
Cash flow:	$11,500	$3,400	$4,280	$1,620	$0	$1,100

Does the project achieve payback within the first three years?

multiple choice 1

Yes

No

Should the project be accepted or rejected?

multiple choice 2

accepted

rejected