Problem 27-01A (Video) (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 $172,800 Project Edge $189,000 Project Clayton $206,000 Capital investment Annual net income: Year 1 2 3 15,120 15,120 15,120 15,120 15,120 $75,600 19,440 18,360 17,280 12,960 9,720 $77,760 29,160 24,840 22,680 14,040 12,960 $103,680 4 5 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. (a) Your answer is partially correct. Try again. 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 3.4 years X Project Clayton 3.18 || years Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT LINK TO TEXT Compute the not present value for cach project. (Round answers to decimal places, cg. 125. If the net present value is negative, use cither a negative sign preceding the number eg -15 or parentheses eg (15).For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Project Bono Project Edge Project Clayton Net present value $ $ e Textbook and Media Compute the annual rate of return for each project. (Hint: Use average annual net income in your computation.) (Round answers to 2 decimal places, eg. 10.50%) Project Bono Project Edge Project Clayton Annual rate of return % % cTextbook and Media Rank the projects on each of the foregoing bases. Which project do you recommend? Net Present Value Annual Rate of Return Project Cash Payback Bono Edge Clayton The best project is