The Three Stages partnership is considering three long-term capital investment proposals. Each investment has a useful life of five years. Relevant data on each project are as follows: Project Odyssey Project Main $171,000 Project Duo $220,000 Capital investment: $182,400 Annual net income: Year 1 $14,820 $20,520 $30,780 2. 14,820 19,380 25,080 3 14,820 18,240 23,940 4 14,820 13.680 14,820 5 14,820 10,260 13,680 Total $74,100 $82,080 $108,300 Depreciation is calculated by the straight-line method and there is no salvage value. The company's cost of capital is 15%. (Use average net annual cash flows in your calculations.) (a) Your Answer Correct Answer (Used) Calculate the cash payback period for each project. (Round answers to 2 decimal places, e.g. 15.25.) Payback period Project Main 3.49 years Project Odyssey 3.45 years Project Duo 3.35 years Calculate the net present value for each project. (If the answer is negative, use either a negative sign preceding the number e.g. -5,275 or parentheses e.g. (5,275). For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 1.25124 and final answers to decimal places, e.g. 5,275.) Click here to view PV table. Net present value Project Main TA Project Odyssey $ Project Duo $ $ Save for Later Attempts: 1 of 2 used Submit