Problem 13-4 Discounted Payback (LG13-2)

Compute the discounted payback statistic for Project C if the appropriate cost of capital is 8 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

Time:	0	1	2	3	4	5
Cash flow:	$ 1,000	$ 480	$ 480	$ 520	$ 300	$ 100

Discount Pay back Period = year