MC Qu. 41 (Ignore income taxes in this problem.)...

(Ignore income taxes in this problem.) The management of Helberg Corporation is considering a project that would require an investment of $260,000 and would last for 6 years. The annual net operating income from the project would be $110,000, which includes depreciation of $17,000. The scrap value of the project's assets at the end of the project would be $15,000. The cash inflows occur evenly throughout the year. The payback period of the project is closest to:

2.0 years

2.4 years

1.8 years

2.1 years