Problem 24-6A Payback period, break-even time, and net present value LO P1, A1 Lenitnes Company is considering an investment in technology to improve its operations. The investment will require an initial outlay of $262,000 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 1 2 3 4 5 WN Cash Flow $123, 300 92,900 70,300 53,900 47,300 Required: 1. Determine the payback period for this investment. 2. Determine the break-even time for this investment. 3. Determine the net present value for this investment. Required 1 Required 2 Required 3 Determine the payback period for this investment. (Round your Payback period answer to 1 decimal place. Enter cash outflows with a minus sign.) Year Cash inflow (outflow) Cumulative Net Cash Inflow (outflow) o $ (262,000) 1 2 3 4 0 0 Payback period Required 1 Required 2 Required 3 Determine the break-even time for this investment. (Round your Payback period answer to 1 decimal place. Enter cash outflows with a minus sign.) Year Cash inflow (outflow) Table factor Present Value of Cash Flows Cumulative Present Value of Cash Flows 0 (262,000) 0.8573 $ 0 0 0.7938 $ $ 0 0.7350 $ 0 0 0 0 0 LO 0.6806 $ 0 (262,000) Break-even time = Required 1 Required 2 Required Determine the net present value for this investment. Net present value