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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

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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 8 percent, and that the maximum allowable payback and discounted payback statistics for the project ore 2.0 and 3.0 years, respectively. Canh flow 0 $4,600 1 $1,120 2 $2,320 $1,520 $1,520 $1,320 $1,120 Use the discounted payback decision rule to evaluate this project. (Round your answer to 2 decimal places.) Discounted payback 3.25 years Should it be accepted or rejected? rejected accepted

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