Question 10 of 16 - / 12 View Policies Current Attempt in Progress The Three Stages partnership is considering three long-term capital investment proposals. Each investment has a useful life of five years. Relevant data on each project are as follows: Project Main Project Odyssey Project Duo Capital investment: $153,000 $163,200 $216,000 Annual net income: Year 1 $13,260 $18,360 $27.540 2 13,260 17,340 22,440 3 13.260 16,320 21,420 4 13,260 12.240 13,260 5 13,260 9.180 12.240 Total $66,300 $73,440 $96,900 Depreciation is calculated by the straight-line method and there is no salvage value. The company's cost of capital is 15%. (Use average net annual cash flows in your calculations.) (a) Calculate the cash payback period for each project. (Round answers to 2 decimal places, eg. 15.25.) Payback period Project Main years Project Odyssey years Project Duo years Save for Later Attempts: 0 of 1 used Submit