Cullumber Company is considering three long-term capital investment proposals. Each investment has a useful life of 5 year Relevant data on each project are as follows. Project Bono Project Edge Project Clayton Capital investment $166,000 $178,000 $208,000 Annual net income: Year 1 14,980 19,260 28,890 2 14,980 18,190 24.610 14,980 17,120 22.470 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 straight-line method with no salvage value. The company's cost of capital is 15%. (Assume that flows occur evenly throughout the year.). Click here to view PV table. Compute the annual rate of return for each project. (Hint: Use average annual net income in your computation to 2 decimal places, e.g. 10.50%.) Project Bono Project Edge Project Clayton Annual rate of return % % % eTextbook and Media Save for Later Attempts: 0 of 6 used Submit Answ