Prime Financial Inc. is evaluating two capital investment proposals for a drive-up ATM kiosk, each requiring an investment of $200,000 and each with an eight-year life and expected total net cash flows of $320,000. Location 1 is expected to provide equal annual net cash flows of $40,000, and Location 2 is expected to have the following unequal annual net cash flows:

Year 1...........$60,000...........Year 5...........$30,000

Year 2............50,000...........Year 6............30,000

Year 3............50,000...........Year 7............30,000

Year 4............40,000...........Year 8............30,000

Determine the cash payback period for both location proposals.