ompute the Discounted Payback statistic for Project X and recommend whether the firm should accept or reject the project with the cash ows shown below if the appropriate cost of capital is 11 percent and the maximum allowable discounted payback is 3 years. 0 3 Time: Cash low 2 640 -990 4 460 340 560 5 310 Multiple Choice 0 3.40 years, reject 0 240 years, accept