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The management of L Corporation is considering a project that would require an investment of $225,000 and would last for 6 years. The annual net

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The management of L Corporation is considering a project that would require an investment of $225,000 and would last for 6 years. The annual net operating income from the project would be $115,000, which includes depreciation of $32,000. The cash inflows occur evenly throughout the year. The payback period of the project is closest to (Ignore income taxes.): Multiple Choice 0 2.0 years 0 1.5 years 0 1.6 years 0 1.4 years

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