Crane 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 $164,800 $180,250 $204,000 Annual net income: Year 1 14,420 18,540 27,810 2 14,420 17,510 23,690 14,420 16,480 21,630 14,420 12,360 13,390 5 14,420 9.270 12,360 Total $72,100 $74,160 $98,880 Depreciation is computed by the straight-line 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. TABLE 1 Future Value of 1 (n) Periods 5% 6% 7% 8% 9% 10% 11% 12% 15% 0 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1 1.04000 1.05000 1.06000 1.07000 2 1.08160 1.10250 1.12360 1.14490 1.08000 1.09000 1.10000 1.11000 1.12000 1.16640 1.18810 1.21000 1.23210 1.25440 1.15000 1.32250 3 1.12486 1.15763 1.19102 1.22504 1.25971 1.29503 1.33100 1.36763 1.40493 1.52088 4 1.16986 1.21551 1.26248 1.31080 1.36049 1.41158 1.46410 1.51807 1.57352 1.74901 5 1.21665 1.27628 1.33823 1.40255 1.46933 1.53862 1.61051 1.68506 1.76234 2.01136 6 1.26532 1.34010 1.41852 1.50073 1.58687 1.67710 1.77156 1.87041 1.97382 2.31306 7 1.31593 1.40710 1.50363 1.60578 1.71382 1.82804 1.94872 2.07616 2.21068 2.66002 8 1.36857 1.47746 1.59385 1.71819 1.85093 1.99256 2.14359 2.30454 2.47596 3.05902 9 1.42331 1.55133 1.68948 1.83846 1.99900 2.17189 2.35795 2.55803 2.77308 3.51788 10 1.48024 1.62889 1.79085 1.96715 2.15892 2.36736 2.59374 2.83942 3.10585 4.04556 11 1.53945 1.71034 1.89830 2.10485 2.33164 2.58043 2.85312 3.15176 3.47855 4.65239 12 12 1.60103 1.79586 2.01220 2.25219 2.51817 2.81267 3.13843 3.49845 3.89598 5.35025 13 1.66507 1.88565 2.13293 2.40985 2.71962 3.06581 3.45227 3.88328 4.36349 6.15279 14 1.73168 1.97993 2.26090 2.57853 2.93719 3.34173 3.79750 4.31044 4.88711 7.07571 15 1.80094 2.07893 2.39656 2.75903 3.17217 3.64248 4.17725 4.78459 5.47357 8.13706 16 1.87298 2.18287 2.54035 2.95216 3.97031 17 1.94790 2.29202 2.69277 3.15882 18 2.02582 2.40662 2.85434 3.37993 19 2.10685 2.52695 3.02560 3.61653 5.14166 3.42594 3.70002 4.32763 5.05447 3.99602 4.71712 5.55992 4.31570 6.11591 4.59497 5.31089 6.13039 9.35762 5.89509 6.86604 10.76126 6.54355 7.68997 12.37545 7.26334 8.61276 14.23177 20 2.19112 2.65330 3.20714 3.86968 4.66096 5.60441 6.72750 8.06231 9.64629 16.36654 TABLE 2 Future Value of an Annuity of 1 (n) Payments 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 1 1.00000 1.00000 1.00000 1.0000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 2 2.04000 2.05000 2.06000 2.0700 2.08000 2.09000 2.10000 3 3.12160 3.15250 3.18360 3.2149 3.24640 3.27810 2.11000 2.12000 3.31000 3.34210 3.37440 2.15000 3.47250 4 4.24646 4.31013 4.37462 4.4399 4.50611 4.57313 4.64100 4.70973 4.77933 4.99338 S 5.41632 5.52563 5.63709 5.7507 5.86660 5.98471 6.10510 6.22780 6.35285 6.74238 6 6.63298 6.80191 6.97532 7.1533 7.33592 7 7.89829 8.14201 8.39384 8.6540 8.92280 9.20044 8 9.21423 9 10.58280 10 9.54911 9.89747 10.2598 11.02656 11.49132 11.9780 12.00611 12.57789 13.18079 13.8164 7.52334 7.71561 8.11519 9.48717 9.78327 10.08901 10.63663 11.02847 11.43589 11.85943 12.29969 7.91286 8.75374 11.06680 13.72682 12.48756, 13.02104 13.57948 14.16397 14.77566 16.78584 14.48656 15.19293 15.93743 16.72201 17.54874 20.30372 11 12 13 16.62684 14 17.71298 18.29191 19.59863 21.01507 13.48635 14.206791 14.97164 15.7836 15.02581 15.91713 16.86994 17.8885 18.88214 20.1406 22.5505 15 20.02359 21.57856 23.27597 25.1290 16.64549 17.56029 18.53117 19.56143 20.65458 24.34928 18.97713 20.14072 21.38428 22.71319 24.13313 29.00167 21.49530 22.95339 24.52271 26.21164 28.02911 34.35192 24.21492 26.01919 27.97498 30.09492 32.39260 27.15211 29.36092 31.77248 34.40536 37.27972 40.50471 47.58041 16 21.82453 23.65749 25.67253 17 23.69751 25.84037 28.21288 27.8881 30.8402 30.32428 18 25.64541 28.13238 30.90565 33.9990 19 27.67123 30.53900 33.75999 37.3790 20 29.77808 33.06595 36.78559 40.9955 33.00340 33.75023 36.97351 37.450241 41.30134 41.44626 46.01846 45.76196 51.16012 35.94973 39.18995 42.75328 55.71747 57.27500 40.54470 44.50084 48.88367 45.59917 50.39593 51.15909 56.93949 64.20283 65.07509 55.74972 75.83636 63.43968 88.21181 72.05244 102.44358 TABLE 3 Present Value of 1 (n) Periods 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 1 .96154 .95238 .94340 .93458 .92593 91743 90909 90090 89286 86957 2 92456 .90703 .89000 .87344 85734 84168 82645 .81162 .79719 .75614 3 88900 86384 .83962 .816301 .79383 77218 .75132 .73119 .71178 .65752 4 .85480 .82270 .79209 .76290 .73503 70843 .68301 .65873 .63552 57175 5 .82193 .78353 .74726 .71299 .68058 .64993 .62092 .59345 56743 49718 6 .79031 .74622 .70496 .66634 .63017 .59627 .56447 53464 .50663 43233 7 .75992 .71068 .66506) .62275 .58349 .54703 51316 48166 45235 .37594 8 .73069 .67684 .62741 .58201 54027 50187 46651 .43393 40388 32690 9 .70259 64461 59190 .54393 50025 46043 42410 39092 36061 28426 10 .67556 .61391 55839 50835 46319 42241 385541 35218 32197 24719 11 .64958 58468 52679 47509 42888 38753 .35049 .31728 28748 21494 12 62460 55684 49697 44401 .39711 35554 31863 28584 25668 .18691 13 .60057 .53032 46884 41496 36770 .32618 28966 25751 22917 16253 14 57748 50507 44230 .38782 34046 29925 26333 23199 20462 14133 15 55526 48102 41727 36245 31524 27454 .23939 .20900 .18270 12289 16 53391 45811 .39365 33873 29189 25187 21763 18829 .16312 .10687 17 51337 43630 37136 .31657 27027 23107 19785 .16963 14564 09293 18 49363 41552 35034 29586 25025 21199 .17986 .15282 13004 08081 19 47464 39573 33051 27615 23171 .19449 .16351 .13768 11611 .07027 20- 45639 37689 31180 25842 21455 17843 .14864 .12403 10367 .06110 TABLE 4 Present Value of an Annuity of 1 (14) Payments 4% 5% 6% 7% 8% 9% 10% 11% 12% 15% 1 96154 95238 94340 93458 .92593 .91743 90909 90090 89286 .86957 2 1.88609 1.85941 1.83339 1.80802 1.78326 1.75911 1.73554 1.71252 1.69005 1.62571 3 2.77509 2.72325 2.67301 2.62432 2.57710 2.53130 2.48685 2.44371 2.40183 2.28323 4 3.62990 3.54595 3.46511 3.38721 3.31213 3.23972 3.16986) 3.10245 3.03735 2.85498 5 4.45182 4.32948 4.21236 4.10020 3.99271 3.88965 3.79079 3.69590 3.60478 3.35216 6 5.24214 5.07569 4.91732 4.76654 4.62288 4.48592 4.35526 4.23054 4.11141 3.78448 7 6.00205 5.78637 5.58238 5.38929 5.20637- 5.03295 4.86842 4.71220 4.56376 4.16042 8 6.73274 6.46321 6.20979 5.97130 5.74664 5.53482 5.33493 9 7.43533 7.10782 6.80169 6.51523 6.24689 5.99525 5.75902 10 8.11090 7.72173 7.36009 7.02358 6.71008 6.41766 6.14457 5.88923 4.96764 5.14612 4.48732 5.53705 5.32825 4.77158 5.01877 5.65022 11 8.76048 8.30641 7.88687 7.49867 7.13896 6.80519 6.49506 6.20652 5.93770 5.23371 12. 9.38507 8.86325 8.38384 7.94269 7.53608 7.16073 6.81369 6.49236 6.19437 5.42062 13 9.98565 9.39357 8.85268 8.35765 7.90378 7.48690 14 10.56312 9.89864 9.29498 8.74547 8.24424 7.10336 7.78615 7.36669 6.74987 6.42355 5.58315 6.98187 6.62817 5.72448 15 11.11839 10.37966 9.71225 9.10791 8.55948 8.06069 7.60608 7.19087 6.81086 5.84737 16 11.65230 10.83777 10.10590 9.44665 8.85137 8.31256 7.82371 7.37916 6.97399 5.95424 17 12.16567 11.27407 10.47726 9.76322 9.12164 8.54363 8.02155 7.54879 7.11963 6.04716 18 12.65930 11.68959 10.82760 10.05909 9.37189 8.75563 8.20141 7.70162 7.24967 6.12797 19 13.13394 12.08532 11.15812 10.33560 9.60360 8.95012 8.36492 7.83929 7.36578 6.19823 20 13.59033 12.46221 11.46992 10.59401 9.81815 9.12855 8.51356 7.96333 7.46944 6.25933 Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.) Project Bono 3.48 years Project Edge 3.40 years Project Clayton 3.16 years Compute the net present value for each project. (Round answers to 0 decimal places, e.g. 125. If the net present value is negative, use either a negative sign preceding the number eg -45 or parentheses eg (45). For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Project Bono Net present value Project Edge Project Clayton