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Suppose your firm is considering investing in a project with thecash flows shown below, that the required rate of return onprojects of this risk class is 11 percent, and that the maximumallowable payback and discounted payback statistics for yourcompany are 3.0 and 3.5 years, respectively Time:012345 Cash flow–$241,000$66,400$84,600$141,600$122,600$81,800Use the payback decision rule to evaluate this project.(Round your answer to 2 decimal places.) PaybackyearsShould the project be accepted or rejected?AcceptedRejected-------------------------------------------------------------------------------------------------------------------------------------------------------------Suppose your firm is considering investing in a project with thecash flows shown below, that the required rate of return onprojects of this risk class is 11 percent, and that the maximumallowable payback and discounted payback statistics for yourcompany are 2.5 and 3.0 years, respectively. Time:012345 Cash flow–$231,000$65,400$83,600$140,600$121,600$80,800Use the discounted payback decision rule to evaluate thisproject. (Do not round intermediate calculations. Roundyour final answer to 2 decimal places Discounted paybackyearsShould it be accepted or rejected?RejectedAccepted