Fernando Designs Is Considering a Project That Has the Following

Multiple Choice

Fernando Designs is considering a project that has the following cash flow and WACC data.What is the project's discounted payback? $$\begin{array} { l c c c c } \text { WACC: } & { 10.00 \% } & & & \\\text { Year } & 0 & 1 & 2 & 3 \\\hline \text { Cash flows } & - \$ 650 & \$ 500 & \$ 500 & \$ 500\end{array}$$

A) 1.62 years
B) 1.58 years
C) 1.15 years
D) 1.47 years
E) 1.24 years