A machine can be purchased for $190,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $38,000. Year 1 Year 2 Year 3 Year 4 Year 5 Income $12,800 $31,800 $76,000 $47,900 $127,200 Compute the machine's payback period. (Round payback period answer to 2 decimal places.) Year Net Income Depreciation Net Cash Flow $ (190,000) Cumulative Net Cash Flow (190,000) Initial invest Year 1 $ Year 2 Year 3 Year 4 12,800 31,800 76,000 47,900 127,200 Year 5 Payback period =