Olinick Corporation is considering a project that would require an investment of $343,000 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	$	227,000
Variable expenses		52,000
Contribution margin		175,000
Fixed expenses:
Salaries		27,000
Rents		41,000
Depreciation		40,000
Total fixed expenses		108,000
Net operating income	$	67,000

The scrap value of the project's assets at the end of the project would be $23,000. The cash inflows occur evenly throughout the year. The payback period of the project is closest to:

A) 3.0 years

B) 5.1 years

C) 3.2 years

D) 4.8 years