The management of Rusell Corporation is considering a project that would require an investment of $282,000 and would last for 6 years. The annual net operating income from the project would be $107,000, which includes depreciation of $43,000. The scrap value of the project's assets at the end of the project would be $24,000. The payback period of the project is closest to: (Ignore income taxes.)

a. 1.9 years

b. 2.6 years

c. 2.4 years

d. 1.7 years