A company is considering the purchase of a new machine for $72,000. Management predicts that the machine can produce sales of $19,500 each year for the next 10 years. Expenses are expected to include direct materials, direct labor, and factory overhead totaling $16,400 per year, including depreciation of $4,400 per year. What is the payback period for the new machine? Multiple Choice 12.70 years. 6.70 years. 9.60 years. 20.70 years. 8.20 years