Olinick Corporation is considering a project that would require an investment of $319,000 and would last for 8 years. The incremental annual revenues and expenses generated by the project during those 8 years would be as follows (ignore Income taxes.): 50 $265,800 26,800 239,000 Sales Variable expenses Contribution margin Fixed expenses: Salaries Rents Depreciation Total fixed expenses Net operating income 33,000 46,000 41,000 120,000 $119,000 The scrap value of the projects assets at the end of the project would be $23,000. The cash inflows occur evenly throughout the year. The payback period of the project is closest to: (Round your answer to 1 decimal place.) The scrap value of the projects assets at the end of the project would be $23,000. The cash inflows occur evenly throughout the year. The payback period of the project is closest to (Round your answer to 1 decimal place.) Multiple Choice 27 years 24 years 7 years 2.0 years