QUESTION 18 Rho Company is considering a new investment that costs $160,000, has a 5 year life and no salvage value. Below is an income statement related to the investment's estimated annual revenues and expenses. Revenues $190,000 Expenses: Salaries $65,000 Utilities 20,000 Depreciation 32,000 Other cash expenses 15.000 132.000 Net operating income I $ 58,000 The payback period on this investment is closest to: 2.8 years 1.8 years 3.3 years O 5.0 years