You are evaluating an investment project costing $11,400 initially. The project will provide $3,000 in after-taxrcash flows in the first year and $5,000 each year thereafter for 4 years. The maximum payback period for  your company is 3 years.r
Your company's cost of capital is 11%.r

What is the discounted payback period for this project?

Should your company accept this project based on the discounted payback period criterion? 

Yes 

No

r