XYZ Ltd has decided to purchase a machine to increase its production capacity. There are three machines under consideration. The relevant details including estimated yearly expenditure and sales are given below. Assume all sales are on cash. The corporate income-tax rate is 35%. Interest on capital may be assumed to be 9%.

Particulars	Machine A(Rs)	Machine B(Rs)	Machine C(Rs)
Initial investment	2,50,000	2,75,000	3,00,000
Estimated annual sales	4,00,000	4,20,000	4,50,000
Cost of production:
Direct material	50,000	60,000	55,000
Direct labour	40,000	35,000	38,000
Factory overhead	70,000	80,000	75,000
Administration cost	15,000	12,000	14,000
Selling & Distribution cost	8,000	9,000	10,000

The economic life of Machine A is 4 years, Machine B is 5 years, and Machine C is 3 years. The scrap values are Rs.20,000, Rs.15,000, and Rs.25,000 respectively. You are required to find out the most profitable investment based on the payback period method.