Cullumber 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		$166,000		$178,000		$208,000
Annual net income:
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 straight-line method with no salvage value. The companys cost of capital is 15%. (Assume that cash flows occur evenly throughout the year.)

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

Project Bono		enter the number of years rounded to 2 decimal places	years
Project Edge		enter the number of years rounded to 2 decimal places	years
Project Clayton		enter the number of years rounded to 2 decimal places	years

B.

Net present value of project Bono =

Net present value of project Edge =

Net present value of project Clayton =

C. Annual rate of return