A company is considering the purchase of a new machine for $64,860. Management predicts that the machine can produce sales of $18,500 each year for the next 10 years. Expenses are expected to include direct materials, direct labor, and factory overhead totaling $15,600 per year, including depreciation of $4,000 per year. What is the payback period for the new machine? Multiple Choice 12.50 years. 6.50 years. 9.40 years 20.50 years. 800 years