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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 vear, the net cash flows for each year, and the net income for each year are pretented in theschedute below All carh 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 at the end of the investment's life. Drake Corporation uses an 11% target rate of return for new investment proposals. ctick here to view the factor table. (a) What is the cash payback period for this proposal? (Round answer to 2 decimal places, es. 10.50) (b) What is the annual rate of return for the investment? (Round answer to 2 decimal places, es. 10.50K) Annual rate of return for the imvestment % (c) What is the net present value of the investment? (If the net present value is negathe, use elther a negative sisn preceding the number es: 45 or parentheses es (45). Round answer to 0 decimal places, es. 125. For calculation purposes, use 5 decimal places as disployed in the factor toble provided.) Net oresent value s Drake Corporation uses an 11% target rate of return for new investment proposals. Click here to view the factor table. (a) What is the cash payback period for this proposal? (Round answer to 2 decimal places, eg. 10.50) Cash payback period years (b) What is the annual rate of return for the investment? (Round answer to 2 decimal places, es. 10.50\%) Annual rate of return for the investment as