Exercise 24-4 (Algo) Payback period, unequal cash flows, and depreciation adjustment LO P1 A machine can be purchased for $170,000 and used for five years, yielding the following Income. This Income computation Includ annual depreciation expense of $34,000. 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. (Round payback period answer to 2 decimal places.) Year Net Income Depreciation Net Cash Flow Cumulative Net Cash Flow Initial invest $ (170,000) $ (170,000) Year 1 $ 11,400 Year 2 28,400 Year 3 64,000 Year 4 42,700 Year 5 113,600 0 0 Payback period =