Exercise 24-3 Payback period computation; straight-line depreciation LO P1 A machine can be purchased for $170,000 and used for five years, ylelding the following net incomes. In projecting net incomes, straight-line depreciation is applied using a five-year life and a zero salvage value. Net Income Year 1 $11,400 Year 2 $28,400 Year 3 $64,000 Year 4 $42,700 Year 5 $113,600 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 $ 0 1 (170,000) (170.000) $ 2 3 11,400 28.400 64.000 42,700 113.600 5 Payback period