Shelby American Industries has gathered the following data on a proposed investment project: Investment required in equipment Annual cash inflows $240,000 $90,000 Salvage value Life of the investment Required rate of return $0 8 years 10% The company uses straight-line depreciation. Assume cash flows occur uniformly throughout a year except for the initial investment. The payback period for the investment is closest to: 4.8 years O 6.0 years 2.5 years O 0.2 years