Sentinel Company is considering an investment in technology to improve its operations. The investment will require an initial outlay of $257,000 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 investments. (PV of $1, FV of $1, PVA of $1 and FMA of $1) (Use appropriate factor(s) from the table provided.) Period Cash Flow 48,500 53,100 76,500 95,200 125,300 Required: 1. Determine the payback period for this investment. (Enter cash outflows with a minus sign. Round your Payback Period answer to 1 decimal place.) Cumulative Net Cash inflow Year Cash inflow (outflow) (outflow) (257,000) Payback period