1 of 3 < > -/1 Cullumber Company is considering three long-term capital investment proposals. Each investment has a useful life of 5 years. Relevant data on each project are as follows. Project Bono Project Edge Project Clayton Capital investment $161,600 $176,750 $204,000 Annual net income: Year 1 14,140 18,180 27.270 2 14.140 17.170 23.230 3 14,1401 16.160 21.210 4 14.140 12.120 13,130 5 14,140 9.090 12.120 Total $70,700 $72.720 $96.960 337 P 2 14,140 17.170 23,230 32 14,140 16,160 21,210 4 14.140 12,120 13,130 5 14,140 9,090 12,120 Total $70,700 $72.720 $96,960 Depreciation is computed by the straight-line method with no salvage value. The company's cost of capital is 15% (Assume that cash flows occur evenly throughout the year.) Click here to view PV table. (a) Band anowers to 2 decimal places, es. 10.50) (a) Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50) Project Bono Project Edge Project Clayton eTextbook and Media years years years eTextbook and Media Save for Later Attempts: 0 of 2 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above