A machine can be purchased for $140,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $28,000. Year 1 $9,500 Tear 2 $23,500 TARE 3 $64,000 Year 4 $35,500 Year 5 $94,000 Compute the machine's payback period. (Round payback period answer to 2 decimal places.) Year Net Income Depreciation Net Cash Flow Cumulative Net Cash Flow Initial invest $ (140,000) $ (140,000) Year 1 $ 9,500 Year 2 23,500 Year 3 64,000 Year 4 35,500 Year 5 94,000 Payback period