John Doe Clothing Inc. is evaluating two capital investment proposals for a retail outlet, each requiring an investment of $980,000 and each with a 7-year life and expected total net cash flows of $1,225,000. Location 1 is expected to provide equal annual net cash flows of $175,000, and Location 2 is expected to have the following unequal annual net cash flows: Year Year 1 Amount Year Amount $175,000 Year 5 $200,000 Year 2 180,000 Year 6 Year 3 200,000 Year 7 150,000 95,000 Year 4 225,000 Determine the cash payback period for both location proposals, Location Year(s) 1, 2, 3, 4, 5, 6, 7. Location 1 Location 2 1, 2, 3, 4, 5, 6, 7.