Cash payback period for a service company Haukea Clothing Inc. is evaluating two capital investment proposals for a retail outlet, each requiring an investment of $175,000 and each with an eight-year life and expected total net cash flows of $280,000. Location 1 is expected to provide equal annual net cash flows of $35,000, and Location 2 is expected to have the following unequal annual net cash flows: Year 1 $68,000 Year 5 $37,000 Year 2 51,000 Year 6 29,000 Year 3 33,000 Year 7 21,000 Year 4 23,000 Year 8 18,000 Determine the cash payback period for both location proposals. Location 1 Location 2 years years