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(Ignore income taxes in this problem.) Czaplinski Corporation is considering a project that would require an investment of $973,000 and would last for 6 years. The incremental annual revenues and expenses generated by the project during those 6 years would be as follows:

Sales	$257,000
Variable expenses	34,500
Contribution margin	222,500
Fixed expenses:
Salaries	33,500
Rents	24,000
Depreciation	95,000
Total fixed expenses	152,500
Net operating income	$70,000

The scrap value of the project's assets at the end of the project would be $48,000. The payback period of the project is closest to:

	13.3 years
	5.9 years
	6.8 years
	13.9 years Please show me the work