U3 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. Project Bono $168,000 Project Edge $183,750 Project Clayton $202,000 Capital investment Annual net income: Year 1 2 3 14.700 14,700 14.700 14.700 14,700 $73,500 18,900 17.850 16.800 12.600 9,450 $75,600 28.350 24.150 22.050 13,650 12,600 $100.800 4 5 Total 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 tahl (a) Compute the cash payback period for each project. (Round answers to 2 decimal places, eg. 10.50 Project Bono years Project Edge years Project Clayton years e Textbook and Media