A machine can be purchased for $220,000 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. Year 1 Year 2 Year 3 Year 4 Year 5 Net income $14,900 $ 36,900 $99,000 $55,700 $147,600 Compute the machine's payback period (ignore taxes). (Round your intermediate calculations to 3 decimal placee and round payback period answer to 3 decimal places.) Depreciation Cumulative Cash Flow Year Net Income Net Cash Flow 0 (220,000) (220.000) 1 14,900 2 36,900 3 99,000 55.700 4 5 147,600 Payback period