A machine can be purchased for $120,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $24,000. Year 1 Year 2 Year 3 Year 4 Year 3 Income 58, 100 $20, 100 $51,000 $30,300 $80,400 Compute the machine's payback period (Round your intermediate calculations to 3 decimal places and round payback period answer to 3 decimal places.) Year Net Income Depreciation Net Cash Flow Cumulative Net Cash Flow $ (120 000) 5 (120,000) $ Initial invest Year 1 Year 2 Year 3 Year 4 Year 5 8,100 20.100 51.000 30.300 80.400 + Payback period