Required information (The following information applies to the questions displayed below.) Project A requires a $295,000 initial investment for new machinery with a five-year life and a salvage value of $49,500. The company uses straight-line depreciation. Project A is expected to yield annual net income of $29,600 per year for the next five years. Compute Project A's payback period. Payback Period Choose Denominator: Choose Numerator: 1 = Payback Period Payback period = =