Compute the discounted payback statistic for Project C if the appropriate cost of capital is 8 percent and the maximum allowable discounted payback period is three years. (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Project C
Time: 0 1 2 3 4 5
Cash flow -$1,900 $840 $750 $790 $480 $280
Discounted payback period: how many years?
Should the project be accepted or rejected?