(I'm fairly new to the forum and you are the first time I've remembered to offer the welcome I see others do. Your warm response will make it easier to remember next time.)
You have three or four problems in your approach. I have written extensively in hopes that it will model how to think through this and help you avoid repeating the mistakes. (I also am playing it safe by assuming you understand less about doing this that you probably do). I think being patient and careful in reading will be worth the effort.
Consider what X=Xo+Vot+(1/2)at2 is saying. It tells you how to figure out where the arrow will end up (i.e., how far it is from X=0). You take its starting position (Xo), add to it how far it goes because of its initial velocity (Vot) and then add how far extra it gets because it is accelerating (.5at2).
Now start by identifying where X=0 is (meaning in the vertical direction...we usually call that Y, not X). By writing
you are implicitly saying that X=0 meters is at the ground (since that is where it ends).
Velocity and acceleration are vectors, so their directions are crucial. That means you must establish the positive and negative directions. It looks like you are choosing down as negative. If so, the arrow starts at Xo= 1.5 m, as you have said. Acceleration, though, is directed downward, so it must be
-9.8 m/s2.
That's the first place you went wrong. Also note that you were careless with negative signs and algebra. As you set it up the time would come out to be \sqrt{-.5533} seconds.
For the horizontal motion, you wrote
That is saying that the arrow starts at 0 m, its initial horizontal velocity of 79.5 m/s carries it forward a distance of 79.5*0.25 meters (we've already seen that is the wrong time), and its horizontal acceleration of 9.8m/s2 gives it another horizontal distance of 9.8*2.52 meters (again, that 2.5 is incorrect).
Do you see the mistake in substituting in the equation? Fixing that and using the correct time should get you the 44 m.