Beyer Company is considering the purchase of an asset for $250,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Year 1 $50,000 Year 2 $36,000 Net cash flows Year 3 $60,000 Year 4 $130,000 Year 5 $24,000 Total $300,000 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 (Outflow) Cumulative Net Cash Inflow (Outflow) 0 $ (250,000) 1 2 3 4 5 Payback period = o arch i 64F Mostly clear ) 10:53 PM 10/5/2021 o