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. Project Fix Project Mark Project Crank Capital investment $142,500 $165,000 $195,000 Annual net income: " '-" Year] $ 9,000 3 l2,500 $ 19,000 2 9,000 12,000 15,000 3 9,000 I 1,000 14,000 4 9,000 8,000 9,000 5 9.000 6.000 8.000 Total 5 45,000 49,500 05,000 Depreciation is computed by the straight-line method with no salvage value. The company's cost of capital is 12%. (Assume cash ows occur evenly throughout the year.) Instructions ' 2(a)r'Compute the net present value for each project. (b) Compute the annual rate of return for each project