Problem 26-1A (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 Edge Project Clayton Project Bono $214,000 Capital investment $172,800 $189,000 Annual net income: 19,440 Year 1 15,120 29,160 18,360 24,840 2 15,120 17,280 12,960 15,120 22,680 15,120 14,040 12,960 15,120 9,720 $75,600 $77,760 $103,680 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.) Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.) Project Bono 3.48 years Project Edge years Project Clayton years