Corvette Product Corporation. is a producer of athletic equipment. The company is considering the purchase of a machine to produce golf clubs. The machine will cost $60,000 and have a 10 -year useful life. The following annual revenues and expenses are projected: The machine will have no salvage value. Assume cash flows occur uniformly throughout a year except for the initial investment. The payback period for the new machine is about: 3.8 years 6.0 years 5.4 years 1.5 years