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. Project Bono $160,000 Project Edge Project Clayton $182,000 $204,000 Capital investment Annual net income Year 1 14,420 18,540 27,810 2 14,420 17,510 23.690 3 14,420 16,480 21,630 4 14420 12,360 13,390 5 14420 9,270 12,360 Total $72,100 $74,160 598,880 Depreciation is computed by the straight-line method with no salvage value. The company's cost of capitalis 15% (Assume that cash AW Your answer is correct Compute the cash payback period for each project. (Round answers to 2 decimal places, es 10.50) Project Bono years Project Edge 342 years Project Clayton 316 years X Your answer is incorrect. Compute the annual rate of return for qach project. (Hint: Use average annual net income in your computation (Round answers to 2 decimal places, e3. 10.50%) Project Clayton Project Bono Project Edge 969 9.01 % 815 Annual rate of return Assistance Used e Textbook and Media Attempts: 1 of 3 used Submit