Beyer Company is considering the purchase of an asset for $320,000. 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 $76,000 $44,000 $70,000 $250,000 $17,000 $457,000 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 Cumulative Net Cash Inflow (Outflow) (Outflow) $ (320,000) 0 1 2 3 4 5 Payback period Beyer Company is considering the purchase of an asset for $320.000, it is expected to produce the following net cash flows. The cash flows occur evenly within each year. Year 1 Year 2 Years Year 4 Year 5 Total Net cash flows $76,000 $44,00 $70,000 $250,000 $17,000 5457.000 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 flow Cumulative Net (Outflow) Cash Inflow (Outflow) $ (320,000) 0 1 2 3 4 5 Payback period