Given the cash flows of four projects, A, B, C, and D, and using the Payback Period decision model, which projects do you accept and which projects do you reject with a three-year cut-off period for recapturing the initial cash outflow? For payback period calculations, assume that the cash flow is equally distributed over the year.

Cash Flow	A	B	C	D
Cost	$10,000	$25,000	$45,000	$100,000
Cash Flow Year 1	$ 4,000	$ 2,000	$10,000	$ 40,000
Cash Flow Year 2	$ 4,000	$ 8,000	$15,000	$ 30,000
Cash Flow Year 3	$ 4,000	$14,000	$20,000	$ 20,000
Cash Flow Year 4	$ 4,000	$20,000	$20,000	$ 10,000
Cash Flow Year 5	$ 4,000	$26,000	$15,000	$ 0
Cash Flow Year 6	$ 4,000	$32,000	$10,000	$ 0