Olinick Corporation is considering a project that would require an investment of $313,000 and would last for 8 years. The incremental annual revenues and expenses generated by the project during those 8 years would be as follows (Ignore income taxes.) $250,000 25,800 225,800 Sales Variable expenses Contribution margin Fixed expenses: Salaries Rents Depreciation 32,000 45,800 40,000 117,000 $108,090 Total fixed expenses Net operating income The scrap value of the projects assets at the end of the project would be S22,000. The cash inflows occur evenly throughout the year. The payback period of the project is closest to: Multiple Choice 2.1 years 2.9 years 2.5 years 2.0 years