Beyer Company is considering buying an asset for $300,000. It is expected to produce the following net cash flows. Net cash flows Year Year 1 $72,000 Initial investment Year 1 Year 2 Year 3 Year 4 Year 5 Total Net Cash Flows Compute the payback period for this Investment. Note: Cumulative net cash outflows must be entered with a minus sign. Round your Payback Perlod answer to 2 decimal places. Year 2 $42,000 $ (300,000) $ 72,000 42,000 71,000 230,000 19,000 Payback period= Cumulative Cash Flows Year 3. $71,000 Year 4. $230,000 (300,000) Year 5 $19,000