Suppose a company had an initial investment of $$40,000.$ The cash flow for the next five years are $$14,000,$$$12,000,$$$13,000,$$$14,000,$ and $$13,000,$ respectively.

What is the payback period?

$($Enter your answer rounded to $2$ DECIMAL PLACES$)$

If the firm accepts projects with payback periods $3$ years or less, will this project be accepted?