(Ignnore income taxes in this problem) A company with $780,000 in operating assets is considering the purchase of a machine that costs $84,000 and which is expected to reduce operating costs by $16,000 each year. These reductions in cost occur evenly throughout the year. The payback period for this machine in years is closest to:

.019 years

5.3 yars

48.8 years

9.3 years