U$3$ Company 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.

Depreciation is computed by the straight$-$line method with no salvage value. The company's cost of capital is $15\%.($Assume that cash

flows occur evenly throughout the year.$)$

Click here to view the factor table.

$($a$)$

Compute the cash payback period for each project. $($Round answers to $2$ decimal places, e$.$g$.10\mathrm{.}50.)$

Project Bono

years

Project Edge

years

Project Clayton

years