Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on projects of this risk class is 9 percent, and that the maximum allowable payback and discounted payback statistics for the project are 2.5 and 3.5 years, respectively.

Time:	0	1	2	3	4	5	6
Cash flow	$4,700	$1,130	$2,330	$1,530	$1,530	$1,330	$1,130

Use the payback decision rule to evaluate this project. (Round your answer to 2 decimal places.)

Payback

years

Should it be accepted or rejected? it showed me that the answer is NOT 3.48.. Can anyone HELP??