Apple Inc. is considering the purchase of a new machine that costs $355,000 and has a useful life of 5 years with no salvage value. The incremental net operating income and incremental net cash flows that would be produced by the machine are (Ignore income taxes) Incremental Net Incremental Net Operating Income Cash Flows Year 1 $ 62,000 $ 148,000 Year 2 $ 68,000 $ 154,000 Year 3 $ 79,000 $ 165,000 Year 4 $ 42,000 $ 128,000 Year 5 $ 84.000 $ 170,000 Assume cash flowi occur uniformly throughout a year except for the initial investment The payback period of this investment is closest to (Round your answer to 1 decimal place.)