Exercise 24-4 Payback period; accelerated depreciation LO P1 A machine can be purchased for $239,000 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 $11,000 Year 2 $36,000 Year 3 $72,000 Year 4 44,000 Years $116,000 Compute the machine's payback period (ignore taxes). (Round payback period answer to 3 decimal places.) Beginning Val Computation of Annual Depreciation Expense Annual Depr. (40% Accumulated o Book ValueDepreciation at Year End Ending Book Value Annual Cash Flows Depreciation Net Cash Flow Year Net Income Cash Flow s 3 000) (230.000) 11,000 36,000 72.000 44,000 116 000 Payback periodu