Check my work A machine can be purchased for $180,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $36,000. Year 1 Year 2 Year 3 Year 4 Year 5 Income $12 , 100 $30 , 100 $69 , 000 $45 , 300 $120 , 400 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 $ (180,000) $ (180,000) Year 1 12, 100 Year 2 30, 100 Year 3 69,000 Year 4 45,300 0 Year 5 120,400 0 Payback period =