Problem $13-4$ Discounted Payback $($LG$13-2)$

Compute the discounted payback statistic for Project $C$ if the appropriate cost of capital is $6$ percent and the maximum allowable

discounted payback period is three years.

Note: Do not round intermediate calculations and round your final answer to $2$ decimal places.

Project C

Discounted payback period

years

Should the project be accepted or rejected?