Kingbird Company is considering two capital investment proposals. Estimates regarding each project are provided below: Project Nuts Project Soup $470000 30000 110000 Initial investment Annual net income Net annual cash inflow Estimated useful life Salvage value $456000 46000 146000 5 years 0 6 years 0 The company requires a 10% rate of return on all new investments. Periods 5 6 Present Value of an Annuity of 1 2% 10% 11% 12% 3.89 3.791 3.696 3.605 4.486 4.355 4.231 4.111 The cash payback period for Project Nuts is