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 Edge Project Clayton Project Bono $170,000 Capital investment $184,000 $210,000 Annual net income: Year 1 14,700 18,900 28,350 2 14.700 17,850 24.150 3 14,700 16,800 22,050 4 14.700 12,600 13,650 5 14,700 9,450 12,600 Total $73,500 $75,600 $100,800 Depreciation is computed by the straight-line method with no salvage value. The company's cost of capitalis 15%(Assume that cash flows occur evenly throughout the year) Click here to view the factor table. Compute the annual rate of return for each project. (Hint: Use average annual net income in your computation. (Round answers to 2 decimal places, eg. 10.50%) Project Bono Project Edge Project Clayton X % 3 Annual rate of return eTextbook and Media Save for Later Attempts: 0 of 3 used Submit