Beyer Company is considering buying an asset for $260,000. It is expected to produce the following net cash flows. Net cash flows Year 1 $ 64,000 Year 2 $38,000 Year 3 $ 67,000 Year 4 $130,000 Year 5 $23,000 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.) Year Cash Inflow (Outflow) Cumulative Net Cash Inflow (Outflow) Initial investment $ (260,000) Year 1 Year 2 Year 3 Year 4 Year 5 Total Payback period = A machine can be purchased for $230,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $46,000. Year 1 $15,600 Year 2 $38,600 Year 3 $106,000 Year 4 $58,300 Year 5 $154,400 Income Compute the machine's payback period. (Round your intermediate calculations to 3 decimal places and round payback period answer to 3 decimal places.) Year Net Income Depreciation Net Cash Flow Cumulative Net Cash Flow Initial invest $ (230,000) $ (230,000) Year 1 $ Year 2 Year 3 15,600 38,600 106,000 58,300 154,400 Year 4 Year 5 Payback period =