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 Clayton Project Edge Project Bono $180,250 $204,000 $164,800 Capital investment Annual net income: 14,420 27,810 18,540 Year 1 23,690 17,510 14,420 2 21,630 14,420 16,480 3 12,360 13,390 4 14,420 14,420 9,270 12,360 5 $72,100 $74,160 $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.) C 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 Bono years Project Edge years Project Clayton years