2.value: 13.00 points Exercise 25-1 Payback period computation; uneven cash flows LO P1 Beyer Company is considering the purchase of an asset for $290,000. It is expected to produce the following net cash flows. The cash flows occur evenly throughout each year. Year 1 Year 2 Year 3 Year 4 Year 5 Total Net cash flows $ 70,000 $ 40,000 $ 70,000 $ 200,000 $ 20,000 $ 400,000 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.)

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