Problem 12-1A (Part Level Submission) (Video) 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 $169,600 Project Edge $185,500 Project Clayton $214,000 Capital investment Annual net income: Year 1 14,840 2 3 19,080 18,020 16,960 12,720 9,540 $76,320 14,840 14,840 14,840 14,840 $74,200 28,620 24,380 22,260 13,780 12,720 $101,760 4 5 Total 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 PV table. (a) Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.) Project Bono years Project Edge years Project Clayton years