Defense Dynamics Co. is considering a project that will require an initial investment of $400,000. 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 $275,000 Year 2 $500,000 Year 3 $450,000 Based on this information, determine the project's payback period. O 1.50 years O 1.25 years O 1.13 years O 1.19 years The regular payback period ignores the time value of money, which concerns Defense Dynamics Co.'s CFO. Calculate the project's discounted payback period. Assume that the project's WACC is 9%. 0 1.35 years O 1.22 years O 1.62 years O 1.28 years The discounted payback period will always be than the regular payback period