Correl Corporation has provided the following data concerning an investment project that it is considering: Initial investment Annual cash flow Salvage value at the end of the project $200,000 $75,000 per year $10,000 The present value of $1. 4 years, 7% = 763 The present value of an annuity of $1. 4 years, 7% = 3.387 The life of the project is 4 years. The company's discount rate is 7%. The net present value of the project is closest to: 107,000 110,000 62,000 64,000 The life of the project is 4 years. The company's discount rate is 7%. The estimate the payback period is closest to: 2.67 years 3.08 years 2.35 years 3.23 years