Current Attempt in Progress Drake Corporation is reviewing an investment proposal. The initial cost and estimates of the book value of the investment at the end of each year, the net cash flows for each year, and the net income for each year are presented in the schedule below. All cash flows are assumed to take place at the end of the year. The salvage value of the investment at the end of each year is equal to its book value. There would be nosalvage value at the end of the investment's life. Drake Corporation uses an 11% target rate of return for new investment proposals. Drake Corparation uses an 11% target rate of return for new imestinent proposals. Click here to view PV table. (a) What is the cash payback period for this proposal? (Round onswer to 2 decimal ploces, e., 10.504 Cash payback period years: (b) What is the annual rate of retum for the irivestment? fiound arewer to 2 declmai places, es 105 Annual rate of retum for the imyestmint 56 (c) What is the ned present value of the irmestment? ffit the net present value is nesotive use either a ne or parentheses ed f451. Round orrwer to O declmoil piaces, te 125. For calculation purposes use 5 dec tabie provided) Net present value