Anderson Company must evaluate two capital expenditure proposals. Anderson's hurdle rate is 12%. Data for the two proposals follow. Required investment Annual after-tax cash inflows Proposal X Proposal Y $480,000 $480,000 60,000 After-tax cash inflows at the end of years 3, 6, 9, and 12 162,000 Life of project 12 years 12 years What is the cash payback period for Proposal X? For Proposal Y? Hint: For Proposal Y, in what year (3, 6, 9 or 12) will the full original investment be recovered? Round Proposal X answer to one decimal place, if applicable. Proposal X x years Proposal Y Check x years