Carla Vista Corporation is reviewing an investment proposal. The initial cost is $105,800. 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 following schedule. 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 assumed to equal its book value. There would be no salvage value at the end of the investment's life. Investment Proposal Year Book Value Annual Cash Flows Annual Net Income 1 $69,100 $44,300 $7,600 2 42,900 39,900 13,700 3 20,000 36,000 13,100 4 8,000 29,700 17,700 5 0 24,670 16,670 Carla Vista Corporation uses an 119% target rate of return for new investment proposals. Click here to view PV table. (a) What is the cash payback period for this proposal? (Round answer to 2 decimal places, eg. 10.50) Cash payback period years (b) What is the annual rate of return for the investment? (Round answer to 2 decimal places, eg. 10.50%) Annual rate of return for the investment 96 (c) What is the net present value