Drake Corporation s reviewing an investment proposal. The initial cost s 105 Estimates of the book a e o 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. A 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 equal its book value. There would be no salvage value atthe end of the investment's life cash Annual Cash Flows 44,700 39,400 36,000 29,400 24,905 Annual Year Book Value 1 $70,600 2 41,100 3 21,700 4 6,700 Net Income $9,600 9,900 16,600 14,400 18,205 Drake Corporation uses an 11% target rate of return for new investment proposals. Click here to view PV table What is the cash payback period for this proposal? (Round answer to 2 decimal places, eg. 1050) Cash payback period 26 years what is the annual rate of return for the investment? (Round(nswer to 2 decimal places, eg. 10.50%.) Annual rate of return for the investment what is the net present value of the investment factor table provided the net presenta e s negative use either a ne ative Sgn preced g the number -45 or parenthe es eg 45). Round answer to O de inn 'plo es, e 12-for calcu ation purposes, use 5 de mal plo es as d sployed in the $ 2701767983 Net present value