Nations Trust is evaluating two capital investment proposals for a drive-up ATM kiosk, each requiring an investment of $ 380,000 and each with an eight-year life and expected total net cash flows of $ 608,000. Location 1 is expected to provide equal annual net cash flows of $ 76,000, and Location 2 is expected to have the following unequal annual net cash flows:

Determine the cash payback period for both locationproposals.

Year 1 $120000 Year 2 90000 Year 3 90,000 Year 4 80,000 Year 5 $57,000 Year6 57,000 Year 7 57,000 Year 8 57,000