Sentinel Company is considering an investment in technology to improve its operations. The investment will require an initial outlay of $243,000 and will yield the following expected cash flows. Management requires investments to have a payback period of 3 years, and it requires a 7% return on 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 Cash Flow $ 48,700 53,900 75,300 94,900 125,200 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. Year Cash inflow (outflow) Cumulative Net Cash Inflow (outflow) 0 $ (243,000) 1 2 3 4 5 Payback period = Year Table factor Present Value of Cash Flows Cash inflow (outflow) (243,000) Cumulative Present Value of Cash Flows 0 1 2 3 4 5 Break-even time = Net present value