read the question carefully and answer it and explain each and every point

is the project is accept or reject give answer with details

KUST(its universty) is evaluating a new project for hangu campus(its the sub campus of KUST universty). The financial manager has determined that the after-tax cash flows for the project will be $10,000; $12,000; $15,000; $10,000; and $7,000, respectively, for each of the Years 1 through 5. The initial cash outlay will be $40,000. The management of KUST(universty) has set a maximum PBP of 3.5 years and hurdle rate 13% for projects of this type.

Should this project be accepted or rejected while using budgeting technique?