Exercise 26-4 (Algo) Payback period, unequal cash flows, and depreciation adjustment LO P1 A machine can be purchased for $230,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $46,000. Income Year 1 Year 2 $15,600 $38,600 Year 3. Year 4 $106,000 $58,300 Year 5 $154,400 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 $ (230,000) $ (230,000) Year 1 $ 15,600 Year 2 38,600 Year 3 106,000 Year 4 58,300 Year 5 154,400 Payback period=