RiverBend Wood is evaluating two capital investment proposals for a retail outlet store, each requiring an investment of $1,002,000 and each with a five-year life and expected total net cash flows of $1,252,500. Location 1 is expected to provide equal annual net cash flows of $250,500, and Location 2 is expected to have the following unequal annual net cash flows: Year 1 $401,000 Year 2 371,000 Year 3 230,000 Year 4 178,700 Year 5 71,800 Determine the cash payback period for both location proposals. Location 1 years Location 2 years