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 are 3.5 and 4.5 years, respectively. 1 Time: Cash flow: 0 -$4,900 $1,260 2 $2,460 $1,660 4 $1,580 5 $1,460 6 $1,260 Use the payback decision rule to evaluate this project. (Round your answer to 2 decimal places.) Payback years Should it be accepted or rejected? accepted rejected