A company is planning to purchase a machine that will cost $42,228, have a six-year life, and will have no salvage value. The company expects to sell the machine's output of 3,000 units evenly throughout each year. A projected income statement for each year of the asset's life appears below. What is the payback period for this machine? Sales Costs: Manufacturing Depreciation on machine Selling and administrative expenses Income Multiple Choice $ 153,000 $ 91,800 4,000 51,000 (146,800) $ 6,200