Cash payback period for a Service Company Prime Financial Inc. is evaluating two capital investment proposals for a drive-up ATM kiosk, each requiring an investment of $225,000 and each with an eight-year life and expected total net cash flows of $360,000. Location 1 is expected to provide equal annual net cash flows of $45,000, and Location 2 is expected to have the following unequal annual net cash flows: Year Year $88,000 $47,000 5 Year Year 65,000 38,000 1 2 6 Year Year 43,000 27,000 3 7 Year Year 29,000 23,000 4 8 Determine the cash payback period for both location proposals. Location 1 years Location 2 years 1 2 3 5 6 7 8