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 $174,400 $190,750 $218,000 Annual net income: Year 1 15,260 19,620 29,430 2 15,260 18,530 25,070 3 15,260 17,440 22,890 4 15,260 13,080 14,170 5 15,260 9,810 13,080 Total $76,300 $78,480 $104,640 Depreciation is computed by the straight-line method with no salvage value. The company's cost of capital is 15%. (Assume that cash ows occur evenly throughout the year.) Click here to view PV table. Compute the cash pay Jack period for each project. (Round answers t02 decimal places, e.g. 10.50.}I Project Bono 5 years Project Edge 3.40 years Project Clayton 3.1? years compute the net present value for each project. (Round answers to O decimal places, e.g. 125. If the net present value is negative, use either a negative sign preceding the number eg -45 or parentheses eg (45). For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Project Bono Project Edge Project Clayton Net present value 57,477 -7,969 2,358 eTextbook and Media X Your answer is incorrect. Compute the annual rate of return for each project. (Hint: Use average annual net income in your computation.) (Round answers to decimal places, e.g. 10.50.) Project Bono Project Edge Project Clayton Annual rate of return 8.75 % 8.23 % 9.60 eTextbook and Media Your answer is partially correct. Rank the projects on each of the foregoing bases. Which project do you recommend