SwiftyCompany is considering two capital investment proposals. Estimates regarding each project are provided below: Project Soup $380000 Project Nuts $492000 46000 30000 Initial investment Annual net income Net annual cash inflow Estimated useful life Salvage value 110000 146000 5 years 6 years 0 0 The company requires a 10% rate of return on all new investments. Periods Present Value of an Annuity of 1 9% 10% 11% 12% 3.89 3.791 3.696 3.605 4.486 4.355 4.231 4.111 5 6 The cash payback period for Project Nuts is 4.75 years. 12.67 years. 3.37 years. 6.23 years