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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 year, the net cash 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 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. Clickheri view the factor table. (a) What is the cash payback period for this proposal? (Round answer to 2 decimal ploces, es. 10.50) Cash payback period vears (b) What is the anmual rate of return for the irvestment? (Round anawer to 2 declmal places, es. 10.505.) What is the annual rate of return for the investment? (Round answer to 2 decimal places, es. 10.50\%) Annual the of return for the investment % (c) Whit is the net present value of the investment? (if the net present value is negative, use either a negotive sisn preceding the number es - 45 or parentheses es (45). Round answer to 0 decimal places, es. 125. For calculation purposes, use 5 decimal ploces as diliplayed in the factor table provided.) Net present value is