You are considering a project that has estimated cash flows of

year 1 = $10,000; year 2 = $15,000; year 3= $20,000; year 4 - $25,000; year 5 = $30,000; year 6 = $35,000 the cost of the project is $35,000

what is the payback for the project

if all projects must have a minimum payback of 6 years, would you accept the project?

if all projects must have a minimum payback of 3 years, would you accept the project?