A company is considering the purchase of a new machine for $51,000. Management predicts that the machine can produce sales of $16,300 each year for the next 10 years. Expenses are expected to include direct materials, direct labor, and factory overhead totaling $7,700 per year including depreciation of $4,300 per year. Income tax expense is $3,440 per year based on a tax rate of 40%. What is the payback period for the new machine? Multiple Choice 3.13 years. 6.14 years O 5.39 years. O 11.86 years. O 22.97 years