Ivanhoe 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

$$170,000$

$$188,000$

$$206,000$

Annual net income:

Year $1$

$14,980$

$19,260$

$28,890$

$2$

$14,980$

$18,190$

$24,610$

$3$

$14,980$

$17,120$

$22,470$

$4$

$14,980$

$12,840$

$13,910$

$5$

$14,980$

$9,630$

$12,840$

Total

$$74,900$

$$77,040$

$$102,720$

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.$)$ Compute the annual rate of return for each project. $($Hint: Use average annual net income in your computation.$)($Round answers to $2$ decimal places, e$.$g$.10\mathrm{.}50\%.)$