(Ignore income taxes in this problem.) Czaplinski Corporation is considering a project that would require an investment of $1,273,000 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	$323,000
Variable expenses	43,500
Contribution margin	279,500
Fixed expenses:
Salaries	42,500
Rents	30,000
Depreciation	119,000
Total fixed expenses	191,500
Net operating income	$88,000

The scrap value of the project's assets at the end of the project would be $60,000. The payback period of the project is closest to:

14.0 years

6.1 years

7.1 years

14.5 years