Monsoo Corporation is considering a project that would require an initial investment of $500,000 and would last for 10 years The incrementat annual revenues and exponses for each of the years would be as follows: Sales $185,000 Variable costs $ 65,000 Contribution Margin $120,000 Fixed Expenses Salaries $ 30,000 Rents $ 10,000 Depreciation $ 50,000 Total Fixed Expenses $90.000 Net Operating Income $30,000 At the end of the project, the scrap value of the projects assets would be $12.000 Required Determine the payback period of the project. Show your work