Question 5 of 5 -/5 Current Attempt in Progress Drake Corporation is reviewing an investment proposal. The initial cost is $107,100. Estimates of the book value of the investment at the end of each year, the net cash flows for each year, and the net income for each year are presented in the schedule below. All cash flows are assumed to take place at the end of the year. The salvape value of the investment at the end of each year is assumed to equalits book value. There would be no salvage value at the end of the investment's life Year 1 Investment Proposal Book Annual Value Cash Flows $69,100 $45,900 42300 39,600 21.100 36,000 8.200 30,500 0 24,715 2 3 Annual Net Income $7.900 12,800 14 800 17,600 16.515 5 Drake Corporation uses an 11% target rate of return for new investment proposals Click here to view the factor table al What is the cash payback period for this proposal? (Round answer to 2 decimal places, s. 10.50 Cash payback period years (b) NancBook A 11 1 % 5 3 6 7 2 8 9 Q 0 W E R Y U T -15 Click here to view the factor table (a) What is the cash payback period for this proposal? (Round answer to 2 decimal places, es 10.50) Cash payback period years [b] What is the annual rate of return for the investment (Round answer to 2 decimal places, s. 10.50%) Annual rate of return for the investment %6 id What is the net present value of the investment? If the net present value is negative, use either a negative sign preceding the numberes -45 or parentheses es (45). Round answer to decimal places, es. 125. For calculation purposes, use decimal places as displayed in the factor table provided.) Net present value $ e Textbook and Media Auto MacBook Air 00 $ 4 & 7 3 5 co 8 9 0 w E R T Y 0