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 Edge Project Clayton $164,800 $180,250 $204,000 Capital investment Annual net income: 14,420 Year 1 27,810 18,540 17,510 4,420 23,690 14,420 16,480 21,630 4,420 12,360 13,390 4,420 9,270 $72,100 $74,160 12,360 $98,880 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. Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.) years Project Bono Project Edge years Project Clayton years