Haukea Clothing Inc. is evaluating two capital investment proposals for a retail outlet, 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 1 $101,000 Year 5 $32,000 Year 2 77,000 Year 6 24,000 Year 3 47,000 Year 7 19,000 Year 4 43,000 Year 8 17,000 Determine the cash payback period for both location proposals. Location 1 Location 2 years years