Question

4)A machine can be purchased for $213,000 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 1Year 2Year 3Year 4Year 5  Net incomes $13,000  $48,000  $63,000  $51,000  $108,000   Compute the machine’s payback period (ignore taxes). (Round your intermediate calculations to 3 decimal places and payback period answer to 3 decimal places.)

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