3. Ross Company is planning to spend $120,000 for a new machine. It will depreciate on a straight-line basis over ten years with no salvage value at the end of that time. The related cash flows from operations, net of taxes, is expected to be $25,000 per year for each of the first four years and $10,000 a year for each of the following six years. What is the payback period? A. 4.8 years B. 5.0 years C. 5.5 years D. 6.0 years E. 72.0 years