(Ignore income taxes in this problem) Flamino Corporation is considering a project that would require an initial investment of $210,000 and would last for 6 years. The incremental annual revenues and expenses for each of the 6 years would be as follows: At the end of the project, the scrap value of the project assets would be $24,000. Determine the payback period of the project. Show your work!(Ignore income taxes in this problem)The management of Se Corporation is considering a project that would require an initial investment of $458,000 and would last for 9 years. The annual net operating income from the project would be $58,000, including depreciation of $48,000. At the end of the project, the scrap value of the project's assets would be $26,000. Determine the payback period of the project. Show your work