Assume the following information for a capital budgeting proposal with a five-year time horizon: Initial investment: Cost of equipment (zero salvage value) Annual revenues and costs: Sales revenues Variable expenses Depreciation expense Fixed out-of-pocket costs The payback period for this investment is closest to: $ 600,000 $ 300,000 $ 130,000 $ 50,000 $ 40,000 Multiple Choice 3.53 years. 7.50 years. 4.62 years. 2.29 years