Bramble 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		$174,400		$190,750		$218,000
Annual net income:
Year 1		15,260		19,620		29,430
2		15,260		18,530		25,070
3		15,260		17,440		22,890
4		15,260		13,080		14,170
5		15,260		9,810		13,080
Total		$76,300		$78,480		$104,640

Depreciation is computed by the straight-line method with no salvage value. The companys cost of capital is 15%. (Assume that cash flows occur evenly throughout the year.) Click here to view PV table.

(a)

Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.)

Project Bono			years
Project Edge			years
Project Clayton			years