Chinook industries inc. s evaluating two capital investment proposals for a retail outlet, each required an investment of $175,000 and each with an eight-year life and expected total net cash flow of $280,000. Location 1 is expected to provide equal annual net cash flow of $35,000, and location 2 is expected to have the following unequal annual net cash flows:

Year 1. $79,000

Year 2. $60,000

Year 3. $36,000

Year 4. $34,000

Year5. $25,000

Year 6. $19,000

Year7. $15,000

Year 8. $12,000

Determine the cash payback period for both location proposals.

Location 1____ years

Location 2_____years