1 Beyer Company is considering the purchase of an asset for $370,000 It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Year 1 Year 2 Year Year 4 Year 5 Total Net cash flows $86,000 $49,000 $70,000 $300,000 $12,000 $517,000 12.5 Compute the payback period for this investment. (Cumulative net cash outflows must be entered with a minus sign. Round your Payback period answer to 2 decimal place.) book Year Cash Inllow (Outlow) $ (370,000) Cumulative Net Cash Intlow (Outlow) 0 1 Print 2 3 . 4 5 Payback period