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A company is planning to purchase a machine that will cost $53,1?2, have a sixyear life, and will have no salvage value. The company expects to sell the machine's output of 3,000 units evenly throughout each year. A projected income statement for each year of the asset's life appears below. What is the payback period for this machine? Sales 5: 189,000 Costs: Manufacturing S 113, 400 Depreciation on machine 4, 000 Selling and administrative expenses 63,000 [180,400] Income 5 8 , 600