A company is planning to purchase a new machine that will cost $450,000 with delivery and setup costs of $50,000. The machine will be depreciated using the straight-line method over five years with a zero salvage value at the end. It is expected that the machine will help the company generate additional after-tax revenues of $180,000 annually. The company is subject to a 20% income tax rate. The machine payback period is:

Group of answer choices

2.22 years

2.25 years

2.50 years

2.78 years