Lesson 12 HW (Graded) Saved Help Save & Exit Submit 5 Check my work 3 A machine can be purchased for $240,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $48,000. 10 points Year 1 $16, 300 Year 2 $40, 300 Year 3 $111,000 Income Year 4 $60, 900 Year 5 $161,200 Compute the machine's payback period. (Round your intermediate calculations to 3 decimal places and round payback period answer to 3 decimal places.) eBook Hint Year Net Income Depreciation Net Cash Flow Cumulative Net Cash Flow Print References $ (240,000 $ (240,000) Initial invest Year 1 $ Year 2 Year 3 Year 4 Year 5 16,300 40,300 111,000 60.900 161,200 Payback period = 1