Question: A machine can be purchased for $600,000 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 $600,000 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 zero salvage value. Compute the machine's payback period (ignore taxes). (Round the payback period to twodecimals.)

Year I Year 2 Year 3 Year 4 Year 5 Net Incomes $40.000 $100,000 $200,000 $150,000 $400.000

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