Sandhill 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.

$\backslash$table$[[,$Project Bono,Project Edge,Project Clayton$],[$Capital investment,$$163,000,$$$180,000,],[$Annual net income:,,,$],[$Year $1,14,700,18,900,22,000],[2,14,700,17,850,24,350],[3,14,700,16,800,22,050],[4,14,700,12,600,13,650],[5,14,700,9,450,12,600],[$Total$,$$$73,500,$$$75,600,]]$

Depreciation is compuited 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.$)$

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