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 places and round payback period answer to 3 decimal places.) Year Net Income Depreciation Net Cash Cumulative Cash Flow Flow $ (220,000) $ (220,000) 0 1 2 3 $ 14,900 36,900 99,000 55,700 147,600 5 0 0 Payback period