Larkspur Company is considering buying a machine for $60000 with an estimated life of 10 years and no salvage value. The straight-line method of depreciation will be used. The machine is expected to generate net income of $4000 each year. The cash payback on this investment is

a. 6.00 years

b. 7.50 years

c. 3.00 years

d. 10.00 years