Beyer Company is considering the purchase of an asset for $260,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Net cash flows Year 1 $64,000 Year 2 $38,000 Year 3 $67,000 Year 4 $130,000 Year 5 $23,000 Total $322,000 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 place.) Year Cash Inflow (Outflow) Cumulative Net Cash Inflow (Outflow) 0 $ (260,000) 1 2 3 4 5 Payback period = Beyer Company is considering the purchase of an asset for $260,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Net cash flows Year 1 $64,000 Year 2 $38,000 Year 3 $67,000 Year 4 $130,000 Year 5 $23,000 Total $322,000 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 place.) Year Cash Inflow (Outflow) Cumulative Net Cash Inflow (Outflow) 0 $ (260,000) 1 2 3 4 5 Payback period =