Rho Company is considering a new investment that costs $270,000, has a 9 year life and no salvage value. Below is an income statement related to the investments estimated annual revenues and expenses. Revenues $ 190,000 Expenses: Salaries $ 65,000 Utilities 20,000 Depreciation 30,000 Other cash expenses 15,000 130,000 Net operating income $ 60,000 The payback period on this investment is closest to: 1.4 years 3.0 years 9.0 years 4.5 years