A company is considering the purchase of a new machine for $90,900. Management predicts that the machine can produce sales of $22,000 each year for the next 10 years. Expenses are expected to include direct materials, direct labor, and factory overhead totaling $18,400 per year, including depreciation of $5,400 per year. What is the payback period for the new machine? 13.20 years. 7.20 years. 10.10 years. 21.20 years. 8.70 years