A machine can be purchased for $271.000 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 ] Year 4 Year S Net income $16, 500 $35, 090 $72,680 $42,608 $110,830 Compute the machine's payback period (Ignore taxes). (Round payback period answer to 3 decimal places) Computation of Annual Depreciation Expense Year Beginning Annual Depr (40% Accursulated Ending Book Book Value of Book Value) Depreciation at Year-End Value nces Annual Cash Flows Year Net income Depreciation Net Cash Flow Cumulative Cash Flow 0 (271,000) (271.000 16.500 2 35,000 72.000 72,000 72.000 42,000 42,000 114,000 5 110,000 110,000 224,000 Payback period = years