The Stenny and Homer partnership 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. Capital investment Project Fix $142,500 Project Mark $165,000 Project Crank $195,000 Annual net income: Year 1 $ 9,000 $ 12,500 $ 19,000 2 9,000 12,000 15,000 3 4 5 Total 9,000 11,000 14,000 9,000 8,000 9,000 9,000 6,000 8,000 45,000 $ 49,500 65,000 Depreciation is computed by the straight-line method with no salvage value. The company's cost of capital is 12%. (Assume cash flows occur evenly throughout the year.) Instructions (a) Compute the net present value for each project. (b) Compute the annual rate of return for each project. (Note: For this math, students must show the calculation to get points. Only writing/providing answers will not be graded)