Refer to the information in Exercise and assume instead that double-declining depreciation is applied. Compute the machine's payback period (ignore taxes). (Round the payback period to three decimals.)

In exercise A machine can be purchased for $150,000 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 I Year 2 Year 3 Year 4 Year 5 Net income ..$10,000 $25,000 $50,000 $37,500 $100,000