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A machine can be purchased for $283,000 and used for five years, yielding the following net incomes. In projecting net incomes, double-declining depreciation is applied,

A machine can be purchased for $283,000 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 $ 21,000 $ 30,000 $ 73,000 $ 41,000 $ 122,000

Compute the machines payback period (ignore taxes). (Round payback period answer to 3 decimal places.)

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