Project Payback Period -

I think I have the first choice correct already but the second one I am unsure about. Thanks in advance!

Consider this case: Vandelay Industries Inc. is considering a project that will require an initial investment of $500,000. The company's CFO wants to know how long it will take to recover its initial investment in the project. The project's expected net cash flows are: Year Cash Flow Year 1 $350,000 Year 2 $500,000 Year 3 $400,000 Based on this information, determine the project's payback period O 1.43 years O 1.24 years O 1.04 years 1.30 years The regular payback period ignores the time value of money, which concerns Vandelay Industries Inc.'s CFO. Calculate the project's discounted payback period. Assume that the project's WACC is 10%. O 1.66 years O 1.44 years CO 1.51 years O 1.15 years