• FutureTech Ltd. needs to choose between three new processing machines. The relevant details are as follows. Assume a tax rate of 25% and an interest on capital of 10%.

Particulars	Machine Alpha (₹)	Machine Beta (₹)	Machine Gamma (₹)
Initial investment	3,20,000	3,80,000	4,00,000
Estimated annual sales	5,20,000	4,70,000	4,90,000
Cost of production:
Direct material	45,000	35,000	40,000
Direct labour	55,000	45,000	50,000
Factory overhead	65,000	55,000	60,000
Administration cost	25,000	20,000	30,000
Selling & Distribution cost	15,000	10,000	20,000

• The economic life of machine Alpha is 4 years, while it is 3 years for the other two. The scrap values are ₹35,000, ₹25,000, and ₹30,000 respectively. Calculate the payback period for each machine to determine the best investment.