A machine can be purchased for $130,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $26,000. Income Year 1 $8,800 Year 2 $21,800 Year 3 $57,000 Year 4 Year 5 $32,900 $87,200 Compute the machine's payback period. Note: Round payback period answer to 2 decimal places. Year Net Income Depreciation Net Cash Flow Cumulative Net Cash Flow Initial invest $ (130,000) $ (130,000) Year 1 S 8.800 Year 2 21,800 Year 3 57,000 Year 4 32,900 Year 5 87,200 Payback period