Required information [The following information applies to the questions displayed below.] Project A requires a $305,000 initial investment for new machinery with a five-year life and a salvage value of $41,500. The company uses straight-line depreciation. Project A is expected to yield annual net income of $25,400 per year for the next five years. Compute Project A's payback period. Payback Period Choose Numerator: Choose Denominator: Payback Period Payback period 1 III =