The management of Wyoming Corporation is considering the purchase of a new machine costing $375,000. The company's desired rate of return is 6%. The present value factor for an annuity of $1 at interest of 6% for five years is 4.212. In addition to the foregoing information, use the following data in determining the acceptability of this investment: Year 1 2 3 4 5 Income from Net Cash Operations Flow $18,750 $93,750 18,750 93,750 18,750 93,750 18,750 93,750 18,750 93,750 The cash payback period for this investment is a. 20 years b. 3 years c. 5 years d. 4 years