Exercise 24-1 Payback period computation; uneven cash flows LO P1 Beyer Company is considering the purchase of an asset for $240,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Year 1 Year 2 Year 3 Year 4 Year 5 Total Net cash flows $60,000 $36,080 $60,000 $150,000 $25,000 $331,000 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 0 1 Cash Inflow Cumulative Net Cash Inflow (Outflow) (Outflow) $ 240,000) 60.000 36.000 60.000 150,000 25,000 2 3 6 5 Payback period