WHAT AM I MISSING?

Beyer Company is considering the purchase of an asset for $190,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Net cash flows Year 1 $50,000 Year 2 $31,000 Year 3 $60,000 Year 4 $140,000 Year 5 $30,000 Total $311,000 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) 0 $ (190,000) 50,000 31,000 60,000 140,000 30,000 Cumulative Net Cash Inflow (Outflow) $ (190,000) (140,000) (109,000) (49,000) 91,000 Payback period = 1 3.35 years