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: -4400 1100 2300 1500 1500 1300 1100

Use the payback decision rule to evaluate this project

Payback ____ years

Accept or Reject?