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A company is considering the purchase of a new machine for $48,060. Management predicts that the machine can produce sales of $16,000 each year

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A company is considering the purchase of a new machine for $48,060. Management predicts that the machine can produce sales of $16,000 each year for the next 10 years. Expenses are expected to include direct materials, direct labor, and factory overhead totaling $13,600 per year, including depreciation of $3,000 per year. What is the payback period for the new machine? Multiple Choice 7.5 years 8.9 years 200 years 12.0 years 60 years

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