2 HW (Graded) Exercise 24-1 Payback period computation; uneven cash flows LO P1 Beyer Company is considering the purchase of an asset for $260,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year, Net cash flows Year 1 $64,000 Year 2 $38,000 Year 3 $67,000 Year 4 $130,000 Year 5 $23,000 Total 5322,000 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.) Year Cash Inflow (Outflow) 5 (260,000) Cumulative Net Cash Inflow (Outllow) 0 1 2 3 4 5 Payback period