himmei, Accounting, 6e Assignment Gradebook ORION CALCULATOR FULL SCREEN PRINTER VERSION Problem 24-1A U3 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 Capital investment $164,800 $180,250 $206,000 Annual net income Year 1 14,420 18,540 27,810 14,420 17,510 23,690 14,420 16,480 21,630 14,420 12,360 13,390 14,420 9,270 12,360 $72,100 $74,160 $98,880 Depreciation is computed by the straight-line method with no salvage value. The company cost of capitalis 15%. CAssume that cash nows occur evenly throughout the year,) Your answer is partially correct. Try again. Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.) 3.48 years Project Edge 40 Years