4) An investment company is deciding between two capital investment proposals, each requiring investment of $340,000 and each with a six-year life and expected total net cash flows of $456,000. Location one is expected to provide equal annual net cash flows of $76,000, and location two is expected to have the following unequal annual net cash flows: I Year 1 $120,000 Year 4 $60,000 Year 2 $90,000 Year 5 $60,000 Year 3 $70,000 Year 6 $56,000 Required: Determine cash payback period for both location proposes. Be sure to show all your work