Beyer Company is considering the purchase of an asset for $210,000. It is expected to produce the following net cash flows. The cash flows occur evenly throughout each year.

Year 1

Year 2

Year 3

Year 4

Year 5

Total

Net cash flows

$

64,000

$

33,000

$

62,000

$

150,000

$

28,000

$

337,000

Year	Cash inflow (outflow)	Cumulative Net Cash Inflow (outflow)
0	$(210,000)
1
2
3
4
5
Payback period =