• ACME Corp has decided to purchase a machine to expand the company's production capacity. There are three machines under consideration. The relevant details including estimated yearly expenditure and sales are given below. All sales are on cash. The corporate income-tax rate is 35%. Interest on capital may be assumed to be 9%.

Particulars	Machine A (₹)	Machine B (₹)	Machine C (₹)
Initial investment	4,00,000	5,00,000	3,50,000
Estimated annual sales	6,00,000	5,50,000	4,80,000
Cost of production:
Direct material	60,000	40,000	50,000
Direct labour	70,000	50,000	40,000
Factory overhead	80,000	70,000	60,000
Administration cost	30,000	20,000	15,000
Selling & Distribution cost	20,000	15,000	10,000

• The economic life of machine A is 2 years, while it is 3 years for the other two. The scrap values are ₹50,000, ₹30,000, and ₹20,000 respectively. You are required to find out the most profitable investment based on the payback period method.