(Ignore income taxes in this problem.) The management of Helberg Corporation is considering a project that would require an investment of $231,000 and would last for 6 years. The annual net operating income from the project would be $121,000, which includes depreciation of $34,000. The scrap value of the project's assets at the end of the project would be $20,200. The cash inflows occur evenly throughout the year. The payback period of the project is closest to:

1.5 years

1.9 years

1.3 years

1.6 years