A company is planning to purchase a machine that will cost $47,652, 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 $ 102,600 4,000 57,000 $ 171,000 (163,600) $ 7,400

A company is planning to purchase a machine that will cost \\( \\$ 47,652 \\), hove a six-year life, ond will have no salvege value. The company expects to sell the machine's outpit of 3,000 units evenly throughout each year. A projected income statement for each year of the assers life appears below. What is the paybeck period for this mochine