Exercise 11-4 (Algo) Payback period, unequal cash flows, and depreciation adjustment LO P1 A machine can be purchased for $190,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $38,000. Year 1 $12,800 Year 2 $31,800 Year 3 $76,000 Income Year 4 $ 47,900 Year 5 $127,200 Compute the machine's payback period. (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 Net Cash Flow Initial invest $ (190,000) $ (190,000) Year 1 $ 12,800 Year 2 Year 3 31,800 76,000 47,900 127,200 Year 4 Year 5 Payback period =