Chinook Industries Inc. is evaluating two capital investment proposals for a retail outlet, each requiring an investment of $900,000 and each with an eightyear life and expected total net cash flows of $1,000,000. Location 1 is expected to provide equal annual net cash flows of $200,000, and Location 2 is expected to have the following unequal annual net cash flows: Year 1 .$390,000 Year 5 Year 2 220,000 ' Year 6 Year 3 180,000 v Year 7 Year 4 150,000 Year 8 Determine the cash payback period for both location proposals. Location 1 Location 2 Cash Payback Period for a Service Company $50,000 50,000 30,000 20,000 V