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 $171,200 $187,250 $208,000 Annual net income: Year 1 14,980 19.260 28,890 2 14.980 18.190 24,610 3 14,980 17.120 22,470 4 14,980 12.8401 13.910 5 14,980 9,630 12,840 Total $74,900 $77,040 $102.720 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.)