Exercise 24-3 Payback period computation; straight-line depreciation LO P1 A machine can be purchased for $250,000 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 $17,000 $42,000 $119,800 $63,500 $168,000 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 Not Income Depreciation Net Cash Cumulative Cash Flow Flow $ (250.000) $ (250,000) 0 1 2 3 $ 17,000 42,000 119,000 63,500 168,000 4 5 Payback period