Olinick Corporation is considering a project that would require an investment of $343,000 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.) $227,000 52,000 175,000 Sales Variable expenses Contribution margin Fixed expenses: Salaries 27,000 41,000 40,000 Rents Depreciation Total fixed expenses 108,000 67,000 Net operating income The scrap value of the project's 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 Multiple Choice 3.0 years 51 years 3.2 years 4.8 years