Lenitnes Company is considering an investment in technology to improve its operations. The investment will require an initial outlay of 5264,000 and will yield the following expected cash flows. Management requires investments to have a payback period of 3 years, and it requires a 8% return on its investments, (PV of $1. FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the table provided.) Period Cash Flow 5123,100 93,000 70.400 53,100 48.100 Required: Determine the payback period for this investment (Enter cash outflows with a minus sign. Round your Payback Period answer to 1 decimal place.) Cash inflow Cumulative Net Year Cash Inflow outflow) outflow) $ (264,000) Payback period