A machine can be purchased for $50,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $10,000. Income Year 1 $3,300 Year 2 $8,300 Year 3 $30,000 Year 4 $12,400 Year 5 $33,200 Compute the machine's payback period. Note: Round payback period answer to 2 decimal places. Year Net Income Depreciation Net Cash Flow Cumulative Net Cash Flow Initial invest $ (50,000) $ (50,000) Year 1 $ 3,300 Year 2 8,300 Year 3 30,000 Year 4 12,400 Year 5 33,200 0 0 Payback period =