b. Compute the NPV for each project

c. Compute the annual rate of return for each project

U3 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 $172,800 Project Edge $189,000 Project Clayton $206,000 Capital investment Annual net income: 15,120 15,120 15,120 15,120 15,120 $75,600 19,440 18,360 17,280 12,960 9,720 $77,760 29,160 24,840 22,680 14,040 12,960 $103,680 Year 1 2 3 4 Total 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. Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50) Project Bono Project Edge Project Clayton years years years