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. Total $457,000 Year 1 Year 2 Year 3 Year 4 Year 5 $76,000 $44,000 $70,000 $250,000 $17,000 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) Cash inflow (Outflow) Year 0 $ (320,000) 1 2 4 Payback period