(Ignore Income Taxes in This Problem

(Ignore income taxes in this problem.) The management of Lanzilotta Corporation is considering a project that would require an investment of $263,000 and would last for 8 years.The annual net operating income from the project would be $66,000,which includes depreciation of $31,000.The scrap value of the project's assets at the end of the project would be $15,000.The cash inflows occur evenly throughout the year.The payback period of the project is closest to:

A) 3.8 years
B) 2.6 years
C) 2.7 years
D) 4.0 years