Required information [The following information applies to the questions displayed below.) Project A requires a $405,000 initial investment for new machinery with a five-year life and a salvage value of $50,000. The company uses straight-line depreciation. Project A is expected to yield annual net income of $29,400 per year for the next five years. Compute Project A's payback period. Payback Period Choose Denominator: Choose Numerator: Payback Period Payback period =