Question Completion Status: (Ignore income taxes in this problem.) Blue Sky Company has gathered the following data on a proposed investment project: Investment required in equipment.. $240,000 Annual cash inflows............. $50,000 Salvage value........ $0 Life of the investment................ 8 years Required rate of return. 10% The payback period for the investment is closest to: 1.0.2 years 2.2.5 years 3.4.8 years 4.5.0 years