• HealthEquip Ltd. wants to expand its equipment line and is evaluating three new machines. The relevant details are provided below. The corporate income-tax rate is 33%, and the interest on capital is 9%.

Particulars	Machine Red (₹)	Machine Blue (₹)	Machine Green (₹)
Initial investment	4,50,000	3,70,000	5,20,000
Estimated annual sales	6,50,000	6,00,000	7,00,000
Cost of production:
Direct material	55,000	50,000	60,000
Direct labour	65,000	60,000	70,000
Factory overhead	75,000	70,000	80,000
Administration cost	30,000	25,000	35,000
Selling & Distribution cost	25,000	20,000	30,000

• The economic life of machine Red is 3 years, while it is 2 years for the other two. The scrap values are ₹50,000, ₹40,000, and ₹30,000 respectively. Calculate the payback period for each machine to decide the most profitable investment.