A company is planning to purchase a machine that will cost $57,000 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? $ 138,000 Sales Costs: Manufacturing Depreciation on machine Selling and administrative expenses Income before taxes Income tax (35) Net income $68,000 9,500 46,000 (123,500) $ 14,500 (5,075) $ 9,425 Multiple Choice 6.00 years. 3.01 years. 1.99 year. 6.05 years. 12 10 years