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Problem 13-5 Payback (LG13-2) Compute the payback statistic for Project B if the appropriate cost of capital is 13 percent and the maximum allowable payback

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Problem 13-5 Payback (LG13-2) Compute the payback statistic for Project B if the appropriate cost of capital is 13 percent and the maximum allowable payback period is three years. (If the project never pays back, then enter a "O" (zero).) Project B Time: Cash flow: 1 -$11,200 $3,370 $4,220 $1,560 4 $0 5 $1,040 Payback years Should the project be accepted or rejected? O accepted O rejected

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