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Perry Enterprises purchased a new machine with a total cost of? $31,600 and a useful life of 4 years. The machine will produce net cash

Perry Enterprises purchased a new machine with a total cost of? $31,600 and a useful life of 4 years. The machine will produce net cash inflows of? $7,600 over its useful life and has a residual value of? $1,510. What is the payback period for the new? machine?

A.3.16 years

B.4.16 years

C.3.96 years

D.5.19 years

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