Beyer Company is considering buying an asset for $370,000. It is expected to produce the following net cash flows. Net cash flows Year Year 1 $86,000 Initial investment Year 1 Year 2 Year 3 Year 4 Year 5 Total 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 places.) $ (370,000) Year 2 $49,000 Payback period = Year 3 $70,000 Year 4 $300,000 Cumulative Cash Flows Year 5 $12,000

Beyer Company is considering buying an asset for $370,000. It is expected to produce the following 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 places.) Beyer Company is considering buying an asset for $370,000. It is expected to produce the following 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 places.)