Required information [The following information applies to the questions displayed below.] Project A requires a $340,000 initial investment for new machinery with a five-year life and a salvage value of $45,500. The company uses straight-line depreciation. Project A is expected to yield annual net income of $26,800 per year for the next five years Compute Project A's payback period. Choose Numerator: Cost of investment Payback Period Choose Denominator: 1 Annual net cash flow = Payback Period Payback period