Blue Spruce Company is considering two capital investment proposals. Relevant data on each project are as follows: Project Red $452,000 27.000 Project Blue 652,000 Capital investment Annual net income Estimated useful life 62,000 8 years 8 years Depreciation is computed by the straight-line method with no salvage value. Blue Spruce requires an 8% rate of return on all new investments. The present value of 1 for 8 periods at 8% is 0.54027 and the present value of an annuity of 1 for 8 periods is 5.74664. Click here to view PV tables, (a) Your answer is correct Compute the cash payback period for each project. (Round answers to 1 decimal place, c.8. 15.2.) Project Red Project Blue Cash payback period 5.4 years 4.5 years (b) Compute the net present value for each project. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answers to 0 decimal places, e.g. 5,275.) Project Red Project Blue Net present value $ $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c) Compute the annual rate of return for each project. (Round answers to 1 decimal place, e.g. 15.2.) Project Red Project Blue Annual rate of return % %