A firm considers an investment whose cost is $ 3 000 000 which is paid in 2022. The expected cash flows from this invest

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A firm considers an investment whose cost is $ 3 000 000 which
is paid in 2022. The expected cash flows from this investment are
as follows:
2023 $ 500 000
2024 $ 700 000
2025 $ 1 000 000
2026 $ 1 000 000
2027 $ 800 000
2028 $ 600 000
The firm’s desired target payback period is 3 years which means
that firm accepts all projects with a payback period less than 3
years.
a) Find the exact payback period of this investment on the basis
of simple payback period.
b) Should the firm accept or reject this investment (give your
answer simply as accept or reject)