A company is considering the purchase of a new machine for $140,000. Management predicts that the machine can produce sales of $27,000 each year for the next eight years. Expenses are expected to include direct materials, direct labor, and factory overhead totaling $7,000 per year plus depreciation of $13,200 per year. The company's tax rate is 40%. What is the payback period for the new machine?

	7.00 years
	5.19 years
	34.31 years
	20.59 years
	8.10 years