(Ignore income taxes in this problem.) Czaplinski Corporation is considering a project that would require an investment of $673,000 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	$191,000
Variable expenses	25,500
Contribution margin	165,500
Fixed expenses:
Salaries	24,500
Rents	18,000
Depreciation	71,000
Total fixed expenses	113,500
Net operating income	$52,000

The scrap value of the project's assets at the end of the project would be $36,000. The payback period of the project is closest to:

	12.2 years
	5.5 years
	6.3 years
	12.9 years