A machine can be purchased for $252,000 and used for five years, yielding the following net incomes. In projecting net incomes, double-declining depreciation is applied using a five-year life and a zero salvage value. Year 1 Net Income $15,000 Year 2 $42,000 Year 3 $56,000 Year 4 $40,000 Year 5 $135,000 Compute the machine's payback period ignore taxes). (Round payback period answer to 3 decimal places.) Computation of Annual Depreciation Expense Beginning Annual Depr. Accumulated Ending Year Book (40% of Book Depreciation at Book Value Value) Year-End Value Annual Cash Flows Depreciation Net Cash Flow Not income Year Cumulative Cash Flow (252,000) (252.000) 15.000 42.000 56.0001 40.000 135.000 56.000 40.000 135,000 56.000 96.000 231,000 Payback period year