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Taylor1 Inc. Taylor1 Inc. is considering proposals to open grocery stores in three different locations The initial investment has a useful life of 5 years and no residual (salvage) value Location A Location B Location Initial Investment $5,000,000 $5,000,000 $5,000,000 Cash Flows Year 1 700,000 1,000,000 3,000,000 Year 2 750,000 3,000,000 2,000,000 800,000 5,000,000 2,000,000 850,000 1,000,000 5,900,000 1,000,000 Total Cash Flows $9,000,000 $9,000,000 $9,000,000 Year 3 Year 4 Year 5 Rank each location using (Best/most favorable option = 1; least = 3) the following two methods: 1 Payback period Payback Period IRR 2 IRR Proposal Location A Location B Location C