A machine can be purchased for $230,000 and used for five years, yielding the following income....

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A machine can be purchased for $230,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $46,000. Income Year 2 Year 3 $106,000 Year 41 $58,300 Year 5. $154,400 Year 1 $15,600 $38,600 Compute the machine's payback period. (Round payback period answer to 2 decimal places.) Year Net Income Depreciation Net Cash Flow Cumulative Net Cash Flow Initial invest $1 (230,000) $ (230,000) Year 1 $ 15,600 Year 2 38,600 Year 3 106,000 Year 4 58,300 Year 5 154,400 0 0 Payback period A machine can be purchased for $230,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $46,000. Income Year 2 Year 3 $106,000 Year 41 $58,300 Year 5. $154,400 Year 1 $15,600 $38,600 Compute the machine's payback period. (Round payback period answer to 2 decimal places.) Year Net Income Depreciation Net Cash Flow Cumulative Net Cash Flow Initial invest $1 (230,000) $ (230,000) Year 1 $ 15,600 Year 2 38,600 Year 3 106,000 Year 4 58,300 Year 5 154,400 0 0 Payback period