Lenitnes Company is considering an investment in technology to improve its operations. The investment will require an initial outlay of $267,000 and will yield the following expected cash flows. Management requires investments to have a payback period of 4 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
1	$123,800
2	92,000
3	70,300
4	53,900
5	47,300

Required:
1.	Determine the payback period for this investment. (Round your answer to 1 decimal place.)

2.	Determine the break-even time for this investment. (Round your answer to 1 decimal place.)

3.	Determine the net present value for this investment.