A machine can be purchased for $207000 and used for five years, yielding the following net incomes. In projecting net incomes double-declining depreciation is applied using a five-year life and a zero salvage value. Year 2 Year 3 Year 4 Year 5 Net Income $13,500 $39,000 $59,000 $109,000 Year 1 $58,5ee Compute the machine's payback period (ignore taxes). (Round payback period answer to 3 decimal places.) Compute the machine's payback period (ignore taxes). (Round payback period answer to 3 decimal places.) Computation of Annual Depreciation Expense Annual Depr. Accumulated Beginning (40% of Book Depreciation at Book Value Value) Year-End Year Ending Book Value 1 2 3 4 5 Annual Cash Flows Year Net Income Depreciation Net Cash Flow Cumulative Cash Flow $ (207,000) 0 2 3 $ (207,000) 13,500 39,000 59,000 58,500 109.000 4 5 Payback period Iyears