Beyer Company is considering buying an asset for $210,000. It is expected to produce the following net cash flows.

	Year 1	Year 2	Year 3	Year 4	Year 5
Net cash flows	$64,000	$33,000	$62,000	$150,000	$28,000

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 places.)

the answer -21000 is also incorrect.

Beyer Company is considering buying an asset for $210,000. It is expected to produce the following net cash flows. Year 1 $ 64,000 Year 2 $33,000 Year 3 $62,000 Net cash flows Year 4 $150,000 Year 5 $28,000 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 places.) Answer is complete but not entirely correct. Year Cash Inflow (Outflow) $ Initial investment Year 1 (210,000) 64,000 Cumulative Net Cash Inflow (Outflow) $ 21,000 X (146,000) (113,000) Year 2 33,000 Year 3 Year 4 62,000 150,000 28,000 (51,000) 99,000 127,000 Year 5 Total $ 127,000 Payback period 3.34 years