Question: A machine can be purchased for $170,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $34,000.

A machine can be purchased for $170,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $34,000. Year 1 Year 2 Year 3 Year 4 Year 5 Income $11,400 $28,400 $64,000 $42,700 $113,600 Compute the machine’s payback period. (Round payback period answer to 2 decimal places.)

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