Test 24 0 Help Save & Exit 10 Check my w Exercise 24-4 Payback period; accelerated depreciation LO P1 A machine can be purchased for $290,000 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 points Net income Year 1 $14,000 Year 2 $40,000 YOR 3 $79.000 Year 4 $43,500 Year 5 $102,000 Compute the machine's payback period (ignore taxes). (Round payback period answer to 3 decimal places.) References Beginning Book Value Computation of Annual Depreciation Expense Annual Depr. (40% Accumulated of Book Value) Depreciation at Year-End Ending Book Value Annual Cash Flows Year Net Income Depreciation Net Cash Flow Cumulative Cash Flow $ $ 290,000) (290,000) 14,000 40.000 79.000 43,500 109 non