Suppose your firm is considering investing in a project with the cash

flows shown as follows, that the required rate of return on projects of

this risk class is $8$ percent, and that the maximum allowable payback

and discounted payback statistic for the project are three and three

and a half years, respectively.

$2\mathrm{.}45$ years, accept

$2\mathrm{.}83$ years, accept

$3\mathrm{.}45$ years, accept

$3\mathrm{.}83$ years, reject