(Ignore income taxes in this problem.) The management of Your Corporation is considering a project that would require an initial investment of $1,148,000 and would last for 7 years. The annual net operating income from the project would be $98,000, including depreciation of $42,000. At the end of the project, the scrap value of the project's assets would be $20,000. What is the payback period of the project? You may need to round to match my number. 20.5 years 11.8 years 8.2 years 9.7 years