Wright Corp. is considering the purchase of a new piece of equipment, which would have an initial cost of $1,000,000 and a 5-year life. There is no salvage value for the equipment. The increase in net income each year of the equipment's life would be as follows Year 1 Year 2 Year 3 Year 4 Year 5 $383,000 $ 358,000 $293,000 $ 238,000 $ 193,000 What is the payback period