Which version of a project's payback period should the CFO use when evaluating Project Beta, given its theoretical superiority?

The regular payback period

The discounted payback period

One theoretical disadvantage of both payback methods$-$compared to the net present value method$-$is that they fail to consider the value of the cash

flows beyond the point in time equal to the payback period.

How much value in this example does the discounted payback period method fail to recognize due to this theoretical deficiency?

$$3,957,217$

$$1,714,226$