A company with $720,000 in operating assets is considering the purchase of a machine that costs $80,000 and which is expected to reduce operating costs by $26,000 each year. These reductions in cost occur evenly throughout the year. The payback period for this machine in years is closest to (Ignore income taxes): Note: Round your answer to 1 decimal place. Multiple Choice 0 27.7 years 3.1 yea rs O Q O 0.33 years