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 $169,600 Project Edge $185,500 Project Clayton $214,000 Capital investment Annual net income: Year 1 14,840 14,840 14,840 14,840 14.840 $74,200 19,080 18.020 16.960 12,720 9.540 $76,320 28,620 24,380 22,260 13.780 12,720 $101.760 + in 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.) Compute the annual rate of return for each project. (Hint: Use average annual net income in your computation.) (Round answers to 2 decimal places, e.g. 10.50.) Project Bono Project Edge Project Clayton Annual rate of return