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

U3 Company is considering three longterm capital investment proposals. Each investment has a useful life of 5 years. Relevant data on each project are as follows. Project Bono Capital investment Annual net income: $171,200 Project Edge $187,250 Project Clayton $202,000 Year 1 14,980 19,260 28,890 2 14,980 18,190 24,610 3 14,980 17,120 22,470 4 14,980 12,840 13,910 5 14,980 9,630 12,840 Total $74,900 $77,040 $102,720 Depreciation is computed by the straightline 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. (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