Compute the Discounted Payback statistic for Project X and recommend whether the firm should accept or reject the project with the cash flows shown below if the appropriate cost of capital is 10 percent and the maximum allowable discounted payback is 3 years. 
Definitions:
Extinction Learning
A process in cognitive psychology and behavioral therapy where a conditioned response gradually diminishes and eventually disappears as the conditioned stimulus is no longer paired with an unconditioned stimulus.
Generalized Learning
The process through which skills or knowledge learned in one context or situation are applied to different but related contexts or situations.
Punishment
A process in behavior analysis and modification, involving the application of an unpleasant stimulus or removal of a desirable stimulus to decrease a behavior.
Negative Reinforcement
A process in which a behavior increases because it removes or diminishes a negative condition.
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