Pro-Mate, Inc. is a producer of athletic equipment. The company is considering the purchase of a machine to produce baseball bats. The machine will cost $60,000 and have a 10-year useful life. The following annual revenues and expenses are projected:

Sales		$40,000
Less expenses:
Out-of-pocket production costs	$15,000
Selling expenses	9,000
Depreciation	6,000	30,000
Net operating income		$10,000

The machine will have no salvage value. Assume cash flows occur uniformly throughout a year except for the initial investment. The payback period for the new machine is about: