Beyer Company is considering the purchase of an asset for $370,000. 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 4Year 5 $86,000 $49,000 $70,000$300,000 $12,000 $517,000 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 place.) Cumulative Net Cash Inflow (Outflow) Year Cash inflow 0 (370,000) 2 4 Payback period