A machine can be purchased for $274,000 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. $23,500 $35,000 $74,000 $47.500 132,000 Compute the machine's payback period (Ignore taxes). (Round payback period answer to 3 decimal places.) Ending Beginning Book Vale Annual Cash Flows Year Net income Depreciation Cumulative Cash Flow O S $ 274,000) (274,000) 23.500 35,000 74,000 47,500 32 000 74,000 47.500 74.000 121.500 253,500 132.000 Payback period