A firm is considering a project with an up-front cost of $22 million. The project is expected to generate a cash flow of $7 million in 1 year. $3 million is 2 years, and $14 million in 3 years. Starting in year 4, each annual cash flow generated by the project is expected to be 2% greater than the previous year's cash flow. The discount rate applicable to this project is 9% per year compounded annually. What are the payback period and discounted payback period for this project, and should the project be accepted or rejected? Round all intermediate calculations to 6 decimal points The payback period is 3 years, the discounted payback period is 4 years, and the project should be accepted