es Beyer Company is considering buying an asset for $300,000. It is expected to produce the following net cash flows. Year 5 $19,000 Year Initial investment Year 1 Year 2 Year 3 Year 4 Year 5 Total Year 1 $72,000 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 places.) Net Cash Flows $ (300,000) Year 2 $42,000 Payback period = Year 3 $71,000 Cumulative Cash Flows Year 4 $230,000

Beyer Company is considering buying an asset for $300,000. It is expected to produce the following 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 places.)