Suppose a company had an initial investment of $45,000. The cash flow for the next five years are $13,000, $17,000, $19,000, $17,000, and $17,000, respectively. The interest rate is 11%. Enter your answer rounded to 2 DECIMAL PLACES.

1. What is the discounted payback period?

2. If the firm requires a discounted payback periods 4 years or less, will the project be accepted?

No

Yes