A company is planning to purchase a machine that will cost $30,000 with a six-year life and 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? $ 96,000 Sales Costs: Manufacturing Depreciation on machine Selling and administrative expenses Income before taxes Income tax (30%) Net income $54,000 5,000 32,000 (91, 000) $ 5,000 (1,500) $ 3,5ee Multiple Choice 8.57 years 1714 years Multiple Choice O 8.57 years. 17.14 years. 6.00 years. 1.47 year. 3.53 years