A machine can be purchased for $281,000 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 $15,000 Year 2 $42,000 Year 3 $5,000 Not income Year 4 $51, 500 127,000 Compute the machine's payback period ignore taxes). (Round payback period answer to 3 decimal places.) Computation of Annual Depreciation Expense Year Beginning Boak Value Annual Depr. (401. Annual Depr. (40 of Book Value) Accumulated Depreciation af Year-End Ending Book Value Annual Cash Flows Net Income Depreciation Net Cash Flow 081.000) 15,000 42 000 51,000 51.500 127.000 Compute the machine's payback period (ignore taxes). (Round payback period answe Computation of Annual Depreciation Expense Year Beginning Book Value Annual Depr. (40% Accumulated of Book Value) - Depreciation at Year-End Ending Book Value Annual Cash Flows Year Net income Depreciation Net Cash Flow Cumulative Cash Flow $ (281,000) 0 $ en WNP (281,000) 15,000 42,000 51,000 51,500 127,000 Payback period = years