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The management of Lanzilotta Corporation is considering a project that would require an investment of...

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Accounting

The management of Lanzilotta Corporation is considering a project that would require an investment of $260,000 and would last for 6 years. The annual net operating income from the project would be $110,000, which includes depreciation of $17,000. 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 (Ignore income taxes.): (Round your answer to 1 decimal place.)

Multiple Choice

  • 2.0 years

  • 2.4 years

  • 1.8 years

  • 2.1 years

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