Ontario Inc. is considering a project that has the following cash flow and WACC data. What is the projects discounted payback?

	CF
Initial investment	(1,020.00)
Cash flow-yr-1	580.00
Cash flow-yr-2	580.00
Cash flow-yr-3	580.00
WACC	12.0%

		1.76 yrs
		1.97 yrs
		1.50 yrs
		2.10 yrs

Using the NPV function I get N as 1.76

(1=0.12, pmt=580, fv=0, pv=1020) would this be the correct answer for the discounted pay back period?