A machine can be purchased for $246,000 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 1 Year 2 Year 3 Year 4 Year 5 Net income $ 17,000 $ 49,000 $ 75,000 $ 42,000 $ 111,000 Compute the machines payback period (ignore taxes). (Round payback period answer to 3 decimal places.) Thank you!

Year Beginning Book Value Annual Dep Book value (40%) Accumulated Dep @ yr end Ending Book Value