(Answered) Question - a machine can be purchased for 213000 and used

Accounting

Question - 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.

Net incomes

Year 1 - $ 13,000

Year 2 - $ 48,000

Year 3 - $ 63,000

Year 4 - $ 51,000

Year 5 - $ 108,000

Compute the machine's payback period (ignore taxes).

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