63. Lockhart Hospital is considering the purchase of new medical equipment for $25 000. The old equipment has zero salvage value. The costs associated with operating the equipment are as follows. Labour Maintenance Miscellaneous Depreciation Old equipment New equipment $9000 $4500 2000 1200 1500 1300 8000 4750 If the new machine is purchased and ignoring income taxes, what is the payback period? *a. 4.55 years b. 3.57 years c. 2.13 years d. 2.86 years