Neighbors Corporation is considering a project that would require an investment of $279,000 and would last for 8 years. The incremental annual revenues and expenses generated by the project during those 8 years would be as follows:

sales: $224,000

Variable Expenses: $22,000

contribution margin : $202,000

Fixed Expenses:

Salaries : $25,000

Rents: $38,000

Depreciation : $33,000

Total Fixed Expenses: $96,000

Net Operating Income : 106,000

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. what would be the payback period of the project?