Determine Net after-tax cash inflow & determine the payback period for a new machine

Hamlet Company is considering the purchase of a new machine that would cost $300,000 and would have an estimated useful life of 10 years with no salvage value. The new machine is expected to have annual before-tax cash inflows of $100,000 and annual before-tax cash outflows of $40,000. The company will depreciate the machine using straight line depreciation, and the assumed tax rate is 40%. Determine the net after-tax cash inflow for the new machine. Determine the payback period for the new machine