Beyer Company is considering the purchase of an asset for $350,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Year 1 $82,000 Year 2 $45,000 Year 3 $70,000 Year 4 $180,000 Year 5 $14,000 Total $391,000 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 $ (350,000) 2 Payback period =