Question
A machine can be purchased for $150,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $30,000.
A machine can be purchased for $150,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $30,000.
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |
|---|---|---|---|---|---|
| Income | $10,000 | $25,000 | $50,000 | $37,500 | $100,000 |
Compute the machines payback period. (Round payback period answer to 2 decimal places.)
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