Cedile Trailer Supply has received three proposals for its new trailer assembly line. Information on each proposal is as follows: Proposal X Proposal Y Proposal z Initial Investment in equipment $180,000 $140,000 $145,000 Working Capital Needed 0 0 15,000 Annual cash saved by operations: Year 1 60,000 60,000 60,000 Year 2 60,000 50,000 60,000 Year 3 60,000 35,000 60,000 Year 4 60,000 10,000 60,000 Salvage value end of year Year 1 30,000 25,000 45,000 Year 2 25,000 20,000 40,000 Year 3 20,000 15,000 35,000 Year 4 15,000 10,000 25,000 Working Capital Needed 0 0 15,000 Determine each proposal's payback.