Exercise 24-1 Payback period computation; uneven cash flows LO P1 Beyer Company is considering the purchase of an asset for $400,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year Total Year 1 $80,000 $8e,00 $70,000 Year 2 Year 5 Year Year 4 200,000 $15,000 $445,000 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.) Cumulative Net Cash Inflow (Outflow) Year Cash inflow 0 400,000 S (400,000) 80,000 80.000 70,000 200,000 15,000 4 Payback period