A machine can be purchased for $240,000 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 5 Year 1 Year 2 Year 3 Year 4 $16,300 $40,300 $111,000 $60,900 $161,200 Net income 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 (240,000) $ 0 (240,000) 16,300 $ 1 40,300 2 111,000 60,900 4 0 5 161,200 0 Payback period