Metlock Company is considering two capital investment proposals. Estimates regarding each project are provided below: Project Project Nuts Soun Initial Investment $320000 $576000 Annual net income 30000 46000 Net annual cash 110000 146000 Inflow Estimated useful life 5 years 6 years Salvage value 0 0 The company requires a 10% rate of return on all new investments, Periods 5 6 Present Value of an Annuity of 1 99 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 Nutsis 10.67 years. 4.00 years 7.20 years 3.95 years