Question: **ACCOUNTING 2 QUESTION, 5 STARS FOR QUICK AND CORRECT ANSWER. THANKS! Beyer Company is considering the purchase of an asset for $300,000. It is expected
**ACCOUNTING 2 QUESTION, 5 STARS FOR QUICK AND CORRECT ANSWER. THANKS!
Beyer Company is considering the purchase of an asset for $300,000. 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 | $ | 76,000 | $ | 45,000 | $ | 75,000 | $ | 260,000 | $ | 16,000 | $ | 472,000 | ||||||||||||
| Compute the payback period for this investment. (Cumulative net cash outflows must be entered with a minus sign. Round your payback period to 2 decimal places.) |
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