The initial cost and estimates of the book value of the investment at the end of each year, the net flows are assumed to take place at the end of the Drake Corporation is reviewing an investment proposal. and estimates cash flows for each year,and the net income for each year are presented in the schedule below. All cash The salvage value of the investment at the end of each year is equal to its life. book value. There would be no salvage value at the end of the investment's Investment Proposal Initial Cost Annual Annual Year and Book Value Cash Flows Net Income 0 $104,400 70,500 $45,200$11.300 40,500 3,000 43,000 35,300 14,200 21,900 7,400 30,400 15,900 0 25,400 18,000 Drake Corporation uses an 1 1% target rate of return for new investment proposals. Click here to view PV table What is the cash payback period for this proposal? (Round answer to 2 decimal places. e$. 10.sa Cash payback period What is the annual rate of return for the investment? (Round answer to 2 decimal places,e.g. 10.50) Annual rate of return for the investment What is the net present value of the investment? Of the net present value is negotive, use either a negative sign preceding the number e-45 or parentheses e (45). Round answer to O decin al ploces, 125. For calculation purposes, use 5 decin al places as displayed in the factor table provided s Net present value