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 $ 170.000 Project Edge Project Clayton $ 188,000 $ 206.000 Capital investment Annual net income Year 1 28,890 19260 18,190 2 14.980 14.980 14,980 14,980 24,610 22.470 3 17,120 12,840 13,910 5 14980 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) Click here to view the factor table Compute the cash payback period for each project. (Round answers to 2 decimal places, as, 10.50) Project Bono years Project Edge years Project Clayton years Rank the projects on each of the foregoing bases. Which project do you recommend? Project Cash Payback Net Present Value Annual Rate of Return Bono Edge > The best project is e Textbook and Media