A company is considering buying a machine that would give a net cost savings of $70,000 per year for 10 years. The cost of the machine is $325,000. The company's weighted average cost of capital is 12%. (Please show work and steps, thank you).

What is the difference in the payback and discounted payback of the machine?

A. 1.64 years

B. 2.15 years

C. 2.35 years

D. 2.55 years

E. 2.86 years