Beyer Company is considering the purchase of an asset for $300,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Year 1 $ 76,000 Year 2 $ 45,000 Year 3 $75,000 Year 4 $260,000 Year 5 $16,000 Total $472,000 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.) Year Cash inflow (Outflow) Cumulative Net Cash Inflow (Outflow) 0 $ (300,000) - 5 Payback period = |