Beyer Company is considering the purchase of an asset for $290,000. It is expected to produce the following net cash flows. The cash flows occur evenly throughout each year Year 1 Year 2 Year 3 Year 4Year 5 Total $70,000 $40,000 $70,000 $200,000 $20,000 $400,000 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 Cumulative Net Cash Inflow (outflow) (outflow) 0 S (290,000) Payback period eBook &Resources Type here to search