A machine can be purchased for $60,000 and used for five years, ylelding the following net incomes. In projecting net incomes, straight-line 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 $3,900 $9,900 $32,000 $14,780 $39,600 Compute the machine's payback period (ignore taxes). (Round your intermediate calculations to 3 decimal places and round payback period answer to 3 decimal places.) Year Net Income Depreciation Net Cash Cumulative Cash Flow Flow $ (60,000) $ (60,000) $ 0 1 2 3 4 5 3,900 9.900 32.000 14,700 39,600 Payback period