Beyer Company is considering the purchase of an asset for $230,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Year 1 $53,000 Year 2 $ $35,000 Year 3 $64,000 Year 4 $150,000 Year 5 $26,000 Net cash flows Total $328,000 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 place.) Year Cash Inflow (Outflow) Cumulative Net Cash Inflow (Outflow) 0 $ (230,000) 1 2 3 4 5 Payback period =