5 Check my work Beyer Company is considering the purchase of an asset for $300,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. 2 points Year 1 $72,000 Year 2 $ 42,000 Year 3 $71,000 Year 4 $ 230,000 Year 5 $ 19,000 Total $ 434,000 Net cash flows 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.) eBook Year Cash Inflow (Outflow) Cumulative Net Cash Inflow (Outflow) Hint 0 $ (300,000) 1 Print 2 3 4 5 Payback period