Terrain Vehicle Has Received Three Proposals for Its New Vehicle-Painting

Terrain Vehicle has received three proposals for its new vehicle-painting machine.Information on each proposal is as follows:
$$\begin{array} { | l | r | r | r | } \hline & \text { Proposal } \mathbf { X } & \text { Proposal Y } & \text { Proposal Z } \\\hline \text { Initial investment in equipment } & \$ 180000 & \$ 120000 & \$ 19000 \\\hline \text { Working capital needed } & 0 & 0 & 10000 \\\hline \text { Annual cash saved by operations: } & & & \\\hline \text { Year 1 } & 75000 & 50000 & 80000 \\\hline \text { Year 2 } & 75000 & 48000 & 80000 \\\hline \text { Year 3 } & 75000 & 44000 & 80000 \\\hline \text { Year 4 } & 75000 & 8000 & 80000 \\\hline \text { Salvage value end of year: } & & & \\\hline \text { Year 1 } & 100000 & 80000 & 60000 \\\hline \text { Year 2 } & 80000 & 60000 & 50000 \\\hline \text { Year 3 } & 40000 & 40000 & 30000 \\\hline \text { Year 4 } & 10000 & 20000 & 15000 \\\hline \text { Working capital returned } & 0 & 0 & 10000 \\\hline\end{array}$$
Required:
Determine each proposal's payback.
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