Exercise 24-3 Payback period computation; straight-line depreciation LO P1 A machine can be purchased for $190,000 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. Net income Year 1 $12,800 Year 2 $31,800 Year 3 $76,000 Year 4 $ 47,900 Year 5 $127,200 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 $ (190,000) $ (190,000) 0 1 $ 2 3 12,800 31,800 76,000 47,900 127,200 4 0 5 0 Payback period =