Omega Tech Solutions is looking at three different machines to enhance production efficiency. Details of the machines are given below. Assume all sales are on cash basis. Corporate income-tax rate is 29%. Interest on capital may be assumed to be 10%.

Particulars	Machine 101 (₹)	Machine 102 (₹)	Machine 103 (₹)
Initial investment	38,00,000	42,00,000	40,00,000
Estimated annual sales	7,00,000	6,50,000	7,50,000
Cost of production:
Direct material	60,000	55,000	70,000
Direct labour	50,000	45,000	60,000
Factory overhead	80,000	75,000	90,000
Administration cost	30,000	25,000	35,000
Selling & Distribution cost	20,000	18,000	25,000

The economic life of Machine 101 is 3 years while it is 4 years for the other two. The scrap values are ₹53,000, ₹43,000, and ₹48,000 respectively. You are required to find the most profitable investment based on the payback period method.