The management of Lanzilotta Corporation is considering a project that would require an investment of $263, 000 and would last for 8 years. The annual net operating income from the project would be $66,000, which includes depreciation of $31,000. The scrap value of the project's assets at the end of the project would be $15,000. The cash inflows occur evenly throughout the year. The payback period of the project is closest to; a. 2.6 years b. 3.8 years C. 4.0 vears d 2.7 years