Harrison Corporation is studying a project that would have an eight-year life and would require a $300,000 investment in equipment which has no salvage value.The project would provide net operating income each year as follows for the life of the project: 
The company's required rate of return is 10%.The payback period for this project is closest to:
Definitions:
Surveys
A method of gathering information from individuals, typically in the form of a questionnaire to collect opinions, behaviors, or demographics.
Primary Data
Information collected directly for a specific research purpose, gathered firsthand by the researcher.
Large Groups
An assembly of a significant number of individuals gathered for a specific purpose or activity.
Direct Quotations
The exact reproduction of another speaker's or writer's words, enclosed in quotation marks to distinguish the quoted material from the original text.
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