An investor places $350,000 into a venture expecting the following annual net cash flows: $50,000 in Year 1, $60,000 in Year 2, $70,000 in Year 3, $80,000 in Year 4, and $90,000 in Year 5. Calculate the payback period and the cumulative net cash flows for each year. Confirm if the initial investment is recovered within five years and identify the specific year and month of recovery.