A department proposes to purchase a machine at the cost of $153,000. The machine will save the company $60,000 per year after tax, for years 1 and 2. Annual savings will drop to $45,000 for years 3 and 4. The machine will have no salvage value after 4 years. The company's cost of capital is 8.0%. What is the discounted payback period for the proposal? Select one: a. 2.43 years b. 3.41 years c. 3.28 years d. 3.39 years e. 3.31 years