Cash Payback period for a Service Company Jane's Clothing Inc. is evaluating two capital investment proposals for a retail outlet, each requiring an investment of $150,000 and each with an eight-year life and expected total net cash flows of $240,000. Location 1 is expected to provide equal annual net cash flows of $30,000, and Location 2 is expected to have the following unequal annual net cash flows: Year 1 $59,000 44,000 Year 2 Year 3 Year 4 29,000 18,000 31,000 25,000 Year 5 Year 6 Year 7 Year 8 18,000 16,000 Determine the cash payback period for both location proposals. Location 1 years Location 2 years years