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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

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.Time: 0 1 2 3 4 5 Cash flow: $11,800 $3,430 $4,340 $1,680 $0 $1,160Does the project achieve payback within the first three years?Should the project be accepted or rejected

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