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 $171,200 Project Edge $187.250 Project Clayton $206,000 Capital investment Annual net income: Year 1 2 3 4 5 Total 14.980 14.980 14.980 14.980 14.980 $74,900 19,260 18,190 17.120 12,840 9,630 $77,040 28,890 24,610 22.470 13,910 12,840 $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.) 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 eTextbook and Media Compute the net present value for each project. (Round answers to decimal places, eg. 125. If the net present value is negative, use either a negative sign preceding the number ez-45 or parentheses es (45). For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Project Bono Project Edge Project Clayton Net present value $ Project Bono Project Edge Project Clayton Annual rate of return 90 e Textbook and Media Rank the projects on each of the foregoing bases. Which project do you recommend? Cash Payback Project Bono Net Present Value Annual Rate of Return Edge Clayton The best project is