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 Project Edge Project Clayton Capital investment $168,000 $183,750, $202,000 Annual net income: Year 1 14,700 18,900. 28,350 2 14.700 17,850 24,150 3 14,700 16,800 22,050 14,700 12,600 13,650 5 14,700 9,450 12.600 Total $73,500 $75,600 $100,800 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) X Your answer is incorrect. Compute the cash payback period for each project. (Round answers to 2 decimal places, eg. 10.50) Project Bono 17.50 years Project Edge Project Clayton eTextbook and Media Save for Later 16.46 years 1996 years Attempts: 1 of 3 used- Submit Answer