A company is considering purchasing factory equipment that costs $$552000$ and is estimated to have no salvage value at the end of its $8-$year useful life. If the equipment is purchased, annual revenues are expected to be $$130000$ 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 equipment is

$5\mathrm{.}8$ years.

$2\mathrm{.}9$ years.

$8\mathrm{.}0$ years.

$20\mathrm{.}4$ years.