3:18? Exercise 24-11 Drake Corporation is reviewing an investment proposal. The initial cost and estimates of the book value of the investment at the end of each year, the net cash flows for each year, and the net income for each year are presented in the schedule below. All cash flows are assumed to take place at the end of the year. The salvage value of the investment at the end of each year is equal to its book value. There would be no salvage value at the end of the investment's life. Cash Fliows Drake Corporation uses an 11% target rate of return for ner investmen What is the cash payback period for this proposal? (Round answer to decimal places, e.g. 10.50.) Cash payback pered What is the annual rate of return for the investment? (Round answer i 2 decimal places, e.g. 10.50.) Annual rate of What is the net present value of the investment? (If the net present value is negative, use either a negative sign preceding the number eg-45 or parentheses eg (45). Round answer to o decimal places, e.g. 125. For calculation purposes, use 5 decimai places as displayed in the factor table provided.) Attempts: f5