Check my work 4 A machine can be purchased for $204,000 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 Year 2 3 $19,50041,000 $64,000 48,500 $104,000 Year 3 Year 4 Year 5 2 points Net income oBook Compute the machine's payback period (ignore taxes). (Round payback period answer to 3 decimal places.) Hint Computation of Annual Depreciation Expense Annual Depr.(40% Print Beginning Book Value Ending Book Value Accumulated Depreciation at Year-End Year of Book Value) Hint Print Annual Cash Flows Cumulative Cash Flow $ (204,000) Year Net income Depre Depreciation Net Cash Flow 0 (204,000) 19,500 41,000 64,000 48,500 104,000 2 4 years