Sunland 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 $166,000 Project Edge Project Clayton $178,000 $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 14,420 12,360 13,390 5 14,420 9,270 12,360 Total $72,100 $74,160 $98,880 Your answer is incorrect Compute the annual rate of return for each project. (Hint: Use average annual net income in your computation.) (Round answers to 2 decimal places, s. 10.50%) Project Bono Project Edge Project Clayton Annual rate of return 9 76 e Textbook and Media Save for Later Attempts: 1 of 3 used Submit