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Crane 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 $170,000 $184,000 $210,000 Capital investment Annual net income Year 1 14,700 18,900 28,350 2 14.700 17,850 24.150 3 14,700 16,800 22.050 4 14,700 12,600 13,650 5 14,700 9,450 12,600 Total $73,500 $75,600 $100,800 Depreciation is computed by the straight-line method with no salvage value. The company's cost of capital is 15% (Assume that cash flows occur evenly throughout the year) Click here to view the factor table. Rank the projects on each of the foregoing bases. Which project do you recommend? Net Present Value Annual Rate of Return Project Cash Payback Bono Edge 3 2 Clayton The best project is Rank the projects on each of the foregoing bases. Which project do you recommend? Net Present Value Annual Rate of Return Project Cash Payback Bono Edge