Given the following cash flows for a capital project for the Witter Corp., calculate its payback period and discounted payback period. The required rate of return is 8 percent. Cashflows: Year O = -50,000; Year 1 = 15,000; Year 2 = 15,000; Year 3 = 20,000; Year 4 = 10,000; and Year 5 = 5,000. The discounted payback period is Multiple Choice 1.85 years longer than the payback period 0.16 years longer than the payback period O O 1.01 years longer than the payback period O None of the above through d is correct 0.80 years longer than the payback period