Exercise 26-1 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. Net cash flows Year 1 $60,000 Year 2 $36,000 Year 3 $60,000 Year 4 $150,000 Year 5 $25,000 Total $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 Cash Inflow (Outflow) Cumulative Net Cash Inflow (Outflow) 0 S (240,000) 1 2 3 4 5 Payback period =