Harrison Corporation is studying a project that would have a ten-year life and would require a $450,000 investment in equipment which has no salvage value. The project would provide net operating income each year for the life of the project as follows: Sales $500,000 Variable cash expenses 250.000 Contribution margin 250,000 Fixed expenses: Fixed cash expenses $130,000 Depreciation expense 45,000 175.000 Net operating income $75.000 The payback period for this project is: 0.9 years 3.75 years 15 years None of the other answers are correct 6.0 years