Drake Corporation is reviewing an investment proposal. The initial cost is $104,600. Estimates of the book value of the investment at the end of each year, the netcash 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 assumed to equa! its book value. There would be no salvage value at the end of the investment'slife Drake Corporation uses an 21% tangetrate of return for new investment propotals Cliek here to view the factor table. (a) What is the cast payback period for this proposal? (Round answer to 2 decimal ploces. es 10.50.) What is the cach paybackpetiod for this proposal? (Round answer to 2 decimal ploces, eg. 10.50.) Cash paybackperiod vears: (b) What is the annualrate of retum for the investment? (Round answer to 2 decimol places, es. 10.50\%.) Annual rate of return for the investment (c) What is the net present value of the investment? If the net present value is negative, use either a negotive sign preceding the number es, 45 or parentheses eg (45). Round answer to 0 decimal places, es. 125. For calculotion purposes, use 5 decimal places as displayed in the foctor table provided, Net present value