(Ignore Income Taxes in This Problem

(Ignore income taxes in this problem.) A company with $500,000 in operating assets is considering the purchase of a machine that costs $60,000 and which is expected to reduce operating costs by $15,000 each year.These reductions in cost occur evenly throughout the year.The payback period for this machine in years is closest to:

A) 0.25 years
B) 8.3 years
C) 4 years
D) 33.3 years