1. Prime Financial Inc. is evaluating two capital investment proposals for a drive-up ATM kiosk, 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 5	$43,000
   Year 2	61,000		Year 6	32,000
   Year 3	38,000		Year 7	25,000
   Year 4	58,000		Year 8	22,000

   Determine the cash payback period for both location proposals.

   Location 1	___ years
   Location 2	___ years