Payback Period A Hospital is trying to determine the payback period for a piece of X-Ray equipment it is purchasing. The assumptions are as follows: - Purchase price of equipment =$750,000. - Useful life of the equipment =10 years. - Revenue the machine will generate per year =$11,000. - Direct operating costs associated with earning revenue =$225,000 - Depreciation expense per year =$70,000. a. Find the machine's expected net income b. Find the annual cash inflow the machine is expected to generate c. Compute the payback period