A machine can be purchased for $100,000 and used for five years, yielding the following net incomes. In projecting net incomes,
straight-line depreciation is applied using a five-year life and a zero salvage value. Year 1 Year 2 Year 3 Year 4 Year 5 Net income $ 6,700 $ 16,700 $ 38,000 $ 25,100 $ 66,800 Compute the machine’s payback period (ignore taxes). (Round your intermediate calculations to 3 decimal places and round payback period answer to 3 decimal places.)
