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3 Exercise 24-4 (Algo) Payback period, unequal cash flows, and depreciation adjustment LO P1...

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Accounting

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Exercise 24-4 (Algo) Payback period, unequal cash flows, and depreciation adjustment LO P1 A machine can be purchased for $110,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $22,000. Compute the machine's payback period. (Round your intermediate calculations to 3 decimal places and round payback period answer to 3 decimal places.)

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