Olinick Corporation is considering a project that would require an investment of $304,000 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): Sales $ 220,000 Variable expenses 23,000 Contribution margin 197,000 Fixed expenses: Salaries 30,000 Rents 43,000 Depreciation 38,000 Total fixed expenses 111,000 Net operating income $ 86,000 The scrap value of the project's assets at the end of the project would be $20,000. The cash inflows occur evenly throughout the year. The payback period of the project is closest to: Note: Round your answer to 1 decimal place. The scrap value of the project's assets at the end of the project would be $20,000. The cash inows occur evenly throughout the year. The payback period of the project is closest to: Note: Round your answer to 1 decimal place. Multiple Choice 0 3.5 years 3.0 years 2.2 years O O 2.5 years 0