The management of Arnold Corporation is considering the purchase of a new machine costing $200,000. The company's desired rate of return is 10%. The present value factors for $1 at compound interest of 10% for 1 through 5 years are 0.909, 0.826, 0.751, 0.683, and 0.621, respectively. In addition to the foregoing information, use the following data in determining the acceptability in this situation: Year Income from Operations Net Cash Flow 1 $50,000 $90,000 2 20,000 60,000 3 10,000 50,000 4 5,000 45,000 5 5,000 45,000 The cash payback period for this investment is: a. 5 years b. 4 years c. 2 years d. 3 years