Problem 12-1A 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 Project Clayton Project Edge $172,800 $189,000 $214,000 Annual net income: Year 1 15,120 19,440 29,160 15,120 18,360 24,840 22,680 15,120 17.280 15,120 12,960 5,120 9,720 12,960 $75,600 $77,760 $103,680 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. Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.) Project Edge Project Clayton