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 $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 Year 2 $79,000 60,000 Year 3. 36,000 Year 4 34,000 Year 5 25,000 Year 6 19,000 > Year 7 15,000 12,000 Year 8 Determine the cash payback period for both location proposals. Location 1 Location 2 years years