OPQ Corporation is planning to invest in new machinery to enhance its production capabilities. There are three machines under consideration. The relevant details including estimated yearly expenditure and sales are provided below. Assume all sales are on cash. The corporate income-tax rate is 37%. Interest on capital may be assumed to be 8%.

Particulars	Machine U(Rs)	Machine V(Rs)	Machine W(Rs)
Initial investment	4,00,000	3,80,000	4,20,000
Estimated annual sales	5,00,000	5,20,000	5,60,000
Cost of production:
Direct material	65,000	70,000	75,000
Direct labour	55,000	60,000	50,000
Factory overhead	80,000	85,000	90,000
Administration cost	22,000	20,000	18,000
Selling & Distribution cost	12,000	14,000	16,000

The economic life of Machine U is 3 years, Machine V is 5 years, and Machine W is 4 years. The scrap values are Rs.35,000, Rs.30,000, and Rs.40,000 respectively. You are required to find out the most profitable investment based on the payback period method