A company is planning to purchase a machine that will cost $57,600 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?

Sales (Cash Basis)				$	150,000
Costs:
Manufacturing Costs (Cash Basis)	$	73,000
Depreciation on machine (Non-Cash Basis)		9600
Selling and administrative expenses (Cash Basis)		54,000			(136,600)
Income before taxes				$	13,400
Income tax (30%, Cash Basis)					(4020)
Net income				$	9380