Beyer Company is considering the purchase of an asset for $240,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year.

Year 1 Year 2 Year 3 Year 4 Year 5 Total Net cash flows $ 60,000 $ 36,000 $ 60,000 $ 150,000 $ 25,000 $ 331,000

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.)

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Compute the payback period for this investment. (Cumulative net cash outflows must be entered with a minus sign. Round yo Payback Period answer to 2 decimal place.) Payback period 2|