Beyer Company is considering the purchase of an asset for $400,000. It is expected to produce the following net cash flows. The cash flows occur evenly throughout each year Year 4 Year 1 $80,000 $80,000 $70,000 $200,000 $15,000 $445,000 Year 2 Year 3 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.) Cash inflow (outflow) Cumulative Net Cash Inflow outflow) Year $ (400,000) $ (400,000) 80,000 80,000 70,000 200,000 15,000 4 Payback period