Jones and Company has just purchased a new piece of equipment, the cost characteristics of which are given below: Purchase cost when new ................... $30,000 Annual cost savings ........................... $6,000 Salvage value ..................................... $0 Life of the equipment ........................ 15 years The company uses a required rate of return of 10% and depreciates equipment using the straight-line method. 44. The payback period for the investment is: A. 5 years B. 15 years C. 2 years D. 7.143 years