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Problem 13-5 Payback (LG13-2) Compute the payback statistic for Project B if the appropriate cost of capital is 11 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 11 percent and the maximum allowable payback period is three years. (If the project never pays back, then enter a "0" (zero).) Project B Time: Cash flow: 2 0 -$12,000 $3,450 3 $4,380 $1,720 4 $0 5 $1,200 Payback years Should the project be accepted or rejected? accepted rejected

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