(b) What is the annual rate of return for the investment? (Round answer to 2 decimal ploces, es. 10.50x) Annual rate of return for the investment (c) What is the net present value of the imestment? af the net present value is negative, ise either a nesative sign preceding the number eg -45 or parentheses es (45). Round answer to 0 decimal ploces, es. 125. For calculation purposes, use 5 decinal places as displayed in the foctor toble provided.) Net present value (b) What is the annual rate of return for the investment? (Round answer to 2 decimal places, es. 10.50\%) Annuat rate of return for the investment x (c) What is the net present value of the imvestment? of the net present volue is negative, use either a negative sign preceding the number es -45 or parentheses es (45). Round answer to 0 decimal places, es. 125. For calculation purposes, use 5 decimal places as displayed in the foctor table provided] Drake Corporation is reviewing an investment proposal. The initial cost is $105,400. 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 irvestment at the end of each year is assumed to equal its book value. There would be no salvage value at the end of the investment's life. Drake Corporation uses an 11% target rate of return for new investment proposals. Click here to view the factor table. (a) What is the cash payback period for this proposal? (Round answer to 2 decimal places, es. 10.50.) Drake Corporation is reviewing an imvestment proposal. The initial cost is $105,400. 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 placeat the end of the year. The salvage value of the investment at the end of each year is assumed to equal its book value. There would be no salvage valbe at the end of the investment's life