Savanna Company is considering two capital investment proposals. Relevant data on each project are as follows: Project Red Project Blue Capital investment $440,000 640,000 Annual net income 25,000 60,000 Estimated useful life 8 years 8 years Depreciation is computed by the straight-line method with no salvage value. Savanna requires an 8% rate of return on all new investments. The present value of 1 for 8 periods at 8% is.540 and the present value of an annuity of 1 for 8 periods is 5.747. Compute the cash payback period for each project. (Round answers to 1 decimal places, eg. 15.2.) Project Red Project Blue years years Cash payback period e Textbook and Media Compute the net present value for each project. Proiect Red Dialect. Bu -/5 5 Compute the net present value for each project. Project Red Project Blue Net present value $ $ e Textbook and Media Compute the annual rate of return for each project. (Round answers to 1 decimal places, e.g. 15.2.) Project Red Project Blue Annual rate of return % % e Textbook and Media Which project should Savanna select