Legend Service Center just purchased an automobile hoist for $37,300. The hoist has an 8 -year life and an estimated salvage value of $3,800. Installation costs and freight charges were $3,400 and $900, respectively. Legend uses straight-line depreciation. The new hoist will be used to replace mufflers and tires on automobiles. Legend estimates that the new hoist will enable his mechanics to replace 5 extra mufflers per week. Each muffler sells for $74 installed. The cost of a muffler is $40, and the labor cost to install a muffler is $14. Compute the cash payback period for the new hoist.