A company is considering the purchase of a new machine for $79,380. Management predicts that the machine can produce sales of $20,500 each year for the next 10 years. Expenses are expected to include direct materials, direct labor. and factory overhead totaling $17,200 per year, including depreciation of $4,800 per year. What is the payback period for the new machine? Multiple Choice 12.90 years. 6.90 years