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. Income Year 1 $10,000 Year 2 $25,000 Year 3 $50,000 Year 4 $37,500 Year 5 $100,000 Compute the machine's payback period. (Round payback period answer to 2 decimal places.) Year Net Income Depreciation Net Cash Flow Initial invest $ (150,000) $ Cumulative Cash Flow (150,000) Year 1 $ 10,000 Year 2 25,000 Year 3 50,000 Year 4 37,500 Year 5 100,000 Payback period