A machine can be purchased for $150,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $30,000.



Year 1 Year 2 Year 3 Year 4 Year 5
Income $10,000 $25,000 $50,000 $37,500 $100,000

Compute the machine’s payback period. (Round payback period answer to 2 decimal places.)