nces Beyer Company is considering buying an asset for $220,000. It is expected to produce the following net cash flows. Net cash flows Year 1 $63,000 Year 2 $34,000 Year 3 $63,000 Year 4 $150,000 Year 5 $27,000 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 places.) Year Net Cash Flows Cumulative Cash Flows Initial investment $ (220,000) $ (220,000) Year 1 63,000 (220,000) Year 2 34,000 Year 3 63,000 Year 4 150,000 Year 5 27,000 Total Payback period Check a