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: 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:

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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:  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:

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The Answer of 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:  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: