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A machine can be purchased for $90,000 and used for five years, yielding the following net incomes. In projecting net incomes, straight-line depreciation is applied,

A machine can be purchased for $90,000 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.

Year 1 Year 2 Year 3 Year 4 Year 5
Net income $ 6,000 $ 15,000 $ 36,000 $ 22,500 $ 60,000

Compute the machines payback period (ignore taxes). (Round payback period answer to 4 decimal places.)

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