Build Corporation wants to purchase a new machine for $303,000. Management predicts that the machine can produce sales of $216,000 each year for the next 4 years. Expenses are expected to include direct materials, direct labor, and factory overhead (excluding depreciation) totaling $71,000 per year. The firm uses straight-line depreciation with no residual value for all depreciable assets. Build's combined income tax rate is 40%. Management requires a minimum after-tax rate of return of 12% on all investments. What is the payback period for the new machine (rounded to nearest one-tenth of a year)? (Assume that the cash inflows occur evenly throughout the year.) Multiple Choice 2.0 years. 2.2 years. O 26 years. O 3.1 years. O 3.7 years