A 0.0160-kg bullet traveling horizontally at 396 m/s strikes a 3.95-kg block of wood sitting at the edge of a table. The bullet is lodged into the wood. If the table height is 1.06 m, how far from the table does the block hit the floor?

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First I used momentum to find velocity, and then put that into Y=ViT+1/2GT^2 to get time(T). Then I used V=x/t to get the distance. The program I use tells me it's wrong, so if you see an error in my work, please tell me.
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.0160(396)+3.95(0)=3.966V
V=1.59759m/s

Y=ViT+1/2GT^2
1.06=1.59759T+-4.9T^2
T=.59

V=X/T
1.59759=X/.59
X=0.9381m

Your value of V is correct, but that V is horizontal and does not affect the time to fall (T).

You should have used
Y = (1/2) g T^2

With the correct T, you should get the correct X