Required information [The following information applies to the questions displayed below.] Project A requires a $370,000 initial investment for new machinery with a five-year life and a salvage value of $37,000. The company uses straight-line depreciation Project A is expected to yield annual net income of $24,300 per year for the next five years. Compute Project A's payback period. Payback Period Choose Denominator: Choose Numerator: Payback Period Payback period =