A machine can be purchased for $222,000 and used for five years, ylelding the following net Incomes. In projecting net Incomes, double-declining depreclation Is applied using a five-year life and a...

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Extracted text: A machine can be purchased for $222,000 and used for five years, ylelding the following net Incomes. In projecting net Incomes, double-declining depreclation Is applied using a five-year life and a zero salvage value. Year 1 Year 2 Year 3 Year 4 Year 5 Net income $18,000 $30, e00 $60,900 $40, see $194,000 Compute the machine's payback perlod (1gnore taxes). (Round payback perlod answer to 3 decimal places.) Computation of Annual Depreciation Expense Beginning Book Value Annual Depr. (40% of Book Value) Accumulated Ending Book Value Year Depreciation at Year-End 2 4 5 Annual Cash Flows Cumulative Year Net income Depreciation Net Cash Flow Cash Flow (222,000) (222,000) 18,000 2 30,000 60,000 60,000 60,000 4 40,500 40,500 100,500 5 104,000 104,000 204,500 Payback period = years