Defence Dynamics Co. is considering a project that will require an initial investment of $450,000. 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 caslh flows are Year Cash Flow Year 1 $300,000 Year 2 $450,000 Year 3 $450,000 Based on this information, determine the project's payback period. O 1.33 years O 1.20 years O 1.53 years O 1.26 years The regular payback period ignores the time value of money, which concerns Defence Dynamics Co.'s CFO. Calculate the project's discounted payback period. Assume that the project's WACC is 7%. O 1.29 years O 1.72 years O 1.43 years O 1.57 years