(Payback period calculations) You are considering three independent projects: project A, project B, and project C. Given the cash flow information in the popup window, calculate the payback period for each. If you require a 3-year payback before an investment can be accepted, which project(s) would be accepted?

What is the payback period of project A? ___years (round to two decimal places).

Data Table

	Project A	Project B	Project C
Initial Outlay	-$1,050	-$10,500	-$7,000
Inflow year 1	700	6,000	2,000
Inflow year 2	400	3,000	3,000
Inflow year 3	300	3,000	3,000
Inflow year 4	100	3,000	3,000

Inflow year 5 600 3,000 3,000