Heidi Company is considering the acquisition of a machine that costs $470,470. The machine is expected to have a useful life of six years, a negligible residual value, an annual net cash flow of $100,100, and annual operating income of $77,000. What is the estimated cash payback period for the machine (round to one decimal point)?

a.2.7 years

b.4.7 years

c.6.1 years

d.1.3 years

Below is a table for the present value of $1 at compound interest.

Year	6%	10%	12%
1	0.943	0.909	0.893
2	0.890	0.826	0.797
3	0.840	0.751	0.712
4	0.792	0.683	0.636
5	0.747	0.621	0.567

Below is a table for the present value of an annuity of $1 at compound interest.

Year	6%	10%	12%
1	0.943	0.909	0.893
2	1.833	1.736	1.690
3	2.673	2.487	2.402
4	3.465	3.170	3.037
5	4.212	3.791	3.605

Using the tables above, what is the present value of $6,000 to be received at the end of each of the next four years, assuming an earnings rate of 10%?

a.$25,272

b.$20,790

c.$14,412

d.$19,020