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 $11$ percent, and that the maximum allowable payback and discounted payback statistics for your company are $3\mathrm{.}0$ and $3\mathrm{.}5$ years, respectively.

Time: $012345$

Cash flow: $$$ $241,000$ $ $66,400$ $ $84,600$ $ $141,600$ $ $122,600$ $ $81,800$

Use the PI decision rule to evaluate this project.

Note: Do not round intermediate calculations and round your final answer to $2$ decimal places.

Should it be accepted or rejected?

$($Click to select$)$