A company is planning to purchase a machine that will cost $73,248, 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 12 Costs: Manufacturing Depreciation on machine Selling and administrative expenses Income Multiple Choice 6.54 years 13.08 years $252,000 $ 151,200 4,000 84,000 (239,200) $ 12,800