Exercise 11-1 Payback period computation; uneven cash flows LO P1 Beyer Company is considering the purchase of an asset for $280,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Year 1 $68,089 Year 2 $40,000 Year 3 $74,689 Year 4 $140,000 Year 5 $21,889 Total $343,089 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 S (280,000) Payback period = 1