Drake Corporation is reviewing an ivestmernt proposal. The initial cost and estimates of the bock value ofhe ivestment at the end of each year, the net cash lows for each year, and the net income for each year are presented in the sthedule below. Al 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 no salvape value at the end of the investment's ife. Investment Proposal Annual Cash Flows Annual Net Income Initial Cost Year and Book Value 105,aaa 70,000 42,000 21,000 7,000 $45,000 40,000 35,000 3D,000 25,000 $10,000 12,000 14,D00 16,D00 18,000 Drake Corporation uses an 11% target rate of return for new investment proposals