Beyer Company is considering the purchase of an asset for $290,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year Total Year 1 $70,000 $40,000 $70,000 $200,000 20,000 $400,000 Year 2 Year 3 Year 4 Year 5 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 place.) Year Cash inflowCumlative Net Cash Inflow Outflow) 0 S(290,000) 2 4 Payback period =