A company is considering purchasing a machine that costs $260000 and is estimated to have no salvage value at the end of its 8-year useful life. If the machine is purchased, annual revenues are expected to be $80000 and annual operating expenses exclusive of depreciation expense are expected to be $34000. The straight-line method of depreciation would be used. The cash payback period on the machine is

8.0 years.

5.7 years.

3.4 years.

6.7 years.