Buitrite has estimated their cost of capital is 15% and they are considering the purchase of a machine with the following capita budget Initial Investment $62,000 RATFCF Year$38,000 RATFCF Year 2 $30,000 RATFCF Year 3 $22,000 What is the machine's payback period? 1.8 years 2.8 years 1.2 years 2.2 years