Problem 24-1A (Part Level submission) 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 $172,800 $189,000 $214,000 Capital investment Annual net income: 15,120 19,440 Year 1 29,160 15,120 18,360 24,840 22,680 15,120 17,280 15,120 12,960 14,040 12,960 15,120 9,720 Total $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.)