Henerhiya Co. is planning to buy a machine costing P84,000 to be depreciated on the straight-line method basis over 10 years life. The related cash flow from operations, net of income taxes, is expected to be P10,000 a year for each of the first 6 years and P12,000 for the next 4 years, It was also estimated that the salvage value of the project at the end of year 1 to be P60,000 and decreases by P5,000 each year thereafter, provided further that at the end of 10 years, the machine has no salvage value. Compute the payback bailout period in years.