Question: A machine can be purchased for $300,000 and used for 5 years, yielding the following net incomes. In projecting net incomes, double-declining balance depreciation is

A machine can be purchased for $300,000 and used for 5 years, yielding the following net incomes. In projecting net incomes, double-declining balance depreciation is applied, using a 5-year life and a $50,000 salvage value. Compute the machineâ€™s payback period (ignore taxes). (Round the payback period to twodecimals.)

Year I Year 2 Year 3 Year 4 Year 5 Net incomes$20,000 $50,000 $100,000 $75,000 $200,000

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