You are about to present a proposed capital investment project to your board of directors. The project has an NPV of $12,000 and an IRR of 12%. The firm's required return is 10%. You are to convey your proposal to the board in a one minute presentation, which will approximately fill the green shaded area below. A prominent board member is insisting that the decision should be made using the Payback method, because it is "simple, error-free, and much more reliable than these fancy discounted cash flow models." Remember, your job is to convince the board to either accept or reject the project, whichever you feel is appropriate given this information.