Chinook Industries Inc. is evaluating two capital investment proposals for a retail outlet, each requiring an investment of $180,000 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 1 $81,000 Year 2 61,000 Year 3 38,000 Year 4 58,000 Year 5 43,000 Year 6 32,000 Year 7 25,000 Year 8 22,000 Determine the cash payback period for both location proposals. Location 1 years Location 2 years