A machine can be purchased for $60,000 and used for five years, yielding the following net incomes. In projecting net incomes, straight-line depreciation is applied using a five-year life and a zero salvage value Year1 $3,900 Year 2 $9,900 Net income Year 3 $32,000 Year $14, 700 Year 5 $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 Flow Cumulative Cash Flow (60,000) (0,0,000) 0 1 $ 2 3 4 5 3,000 9.900 32.000 14,700 39,000 Payback period