Problem 24-1A 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 Edge Project Clayton Project Bono $183,750 Capital investment $168,000 $210,000 Annual net income: 14,700 18,900 Year 1 28,350 17,850 24,150 14,700 14,700 16,800 22,050 14,700 12,600 13,650 14,700 9,450 $73,500 $75,600 12,600 $100,800 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 years Project Clayton