Olinick Corporation is considering a project that would require an investment of $313,000 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 $ 250,000 Variable expenses 25,000 Contribution margin 225,000 Fixed expenses: Salaries 32,000 Rents 45,000 Depreciation 40,000 Total fixed expenses 117,000 Net operating income $ 108,000 The scrap value of the project's assets at the end of the project would be $22,000. 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 2.9 years 1.8 years 2.5 years 2.1 years