Hayden Company is considering the acquisition of a machine that costs $675,000. The machine is expected to have a useful life of 6 years, a negligible residual value, an annual net cash inflow of $150,000, and annual operating income of $87,500. The estimated cash payback period for the machine is
a. 4 years
b. 4.5 years
c. 5 years
d. 3.5 years
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