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.):

Sales	$	250,000
Variable expenses		25,000
Contribution margin		225,000
Fixed expenses:
Salaries		32,000
Rents		45,000
Depreciation		40,000
Total fixed expenses		117,000
Net operating income	$	108,000

The scrap value of the project's assets at the end of the project would be $22,000. The cash inflows occur evenly throughout the year. The payback period of the project is closest to:

A) 2.0 years

B) 2.9 years

C) 2.5 years

D) 2.1 years