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. The management of ALALI Corporation is considering a project that would require an initial investment of $331,000 and would last for 8 years. The
. The management of ALALI Corporation is considering a project that would require an initial investment of $331,000 and would last for 8 years. The annual net operating income from the project would be $54,000, including depreciation of $40,000. At the end of the project, the scrap value of the project's assets would be $11,000. Required: Determine the payback period of the project. Show your work! (Ignore income taxes in this problem)
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