The management of Lanzilotta Corporation is considering a project that would require an investment of $275,000 and would last for 6 years. The annual net operating income from the project would be $113,000, which includes depreciation of $18,000. The scrap value of the project's assets at the end of the project would be $17,500. The cash inflows occur evenly throughout the year. The payback period of the project is closest to (Ignore income taxes.): (Round your answer to 1 decimal place.)