Concord Company is considering two capital investment proposals. Estimates regarding each project are provided below: Project Soup Project Nuts Initial investment $390000 $516000 Annual net income 30000 46000 Net annual cash 110000 146000 inflow 5 years 6 years Estimated useful life Salvage value 0 0 The company requires a 10% rate of return on all new investments. Present Value of an Annuity, of 1 Periods 9% 10% 11% 12% 5 3,89 3.791 3.696 3.605 6 4.486 4.355 4.231 4.111 The cash payback period for Project Nuts is The cash payback period for Project Nuts is O 3.53 years. O 6.29 years. O 13.00 years. O 4.88 years