Build Corporation wants to purchase a new machine for $372,000. Management predicts that the machine can produce sales of $224,000 each year for the next 5 years. Expenses are expected to include direct materials, direct labor, and factory overhead (excluding depreciation) totaling $76,000 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 10% on all investments. What is the present value payback period, rounded to one-tenth of a year? (Note: PV factors for 10% are as follows: year 1 = 0.909 ; year 2 = 0.826 ; year 3 =0.751; year 4=0.683; year 5=0.621; the PV annuity factor for 10%,5 years =3.791. Assume that annual after-tax cash inflows occur at year-end.) Multiple Choice 2.5 years. 3.0 years. 3.3 years. 3.6 years. 4.0 years