A machine can be purchased for $160,000 and used for five years, yielding the following net incomes. In projecting net incomes, straight-line depreciation is applied, using a five-year life and a zero salvage value. Net income Year 1 $10,700 Year 2 $ 26,700 Year 3 $57,000 Year 4 $40,100 Year 5 $ 106,800 Compute the machine's payback period (ignore taxes). (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 Cash Flow $ (160,000) (160,000) 0 1 $ $ 10,700 26,700 57,000 40,100 106,800 32,000 32,000 32,000 32,000 32,000 Payback period = k period