APPLY THE PAYBACK METHOD AND DISCOUNTED PAYBACK. SHOULD THE PROJECT BE ACCEPTED OR REJECTED?

PROJECT INFORMATION: INITIAL CASH OUTLAY = $520,000 CASH INFLOWS: YEAR 1 = 100,000 YEAR 2 = 250,000 YEAR 3 = 150,000 YEAR 4 = 350,000 REQUIRED RATE OF RETURN = 10% PAYBACK CUT-OFF = 3 YEARS