Vandezande Inc. is considering the acquisition of a new machine that costs $367,000 and has a useful life of 5 years with no salvage value. The incremental net operating income and incremental net cash flows that would be produced by the machine are (Ignore income taxes.):
	Incremental Net Operating Income		Incremental Net Cash Flows
Year 1	74,000		154,000
Year 2	80,000		159,000
Year 3	91,000		175,000
Year 4	54,000		156,000
Year 5	96,000		158,000
Assume cash flows occur uniformly throughout a year except for the initial investment.
The payback period of this investment is closest to: (Round your answer to 1 decimal place.)
Multiple Choice
3.5 years
5.0 years
4.7 years
2.3 years