Bultaco, Inc. has purchased a forming machine. It cost $20,000 and has an estimated life of ten years. The following annual product sales and expenses are projected: $22,000 Sales Expenses: Plastic, etc. (required in making product) Salaries Depreciation Operating Income $10,000 $6,000 $1,600 $17,600 $4,400 (Ignore income taxes in this problem.) The payback period on the new machine is closest to which of the following? O 1.4 years. O 2.7 years. O 3.3 years. O 5.0 years