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 $164,800 Project Edge $180,250 Project Clayton $208,000 Capital investment Annual net income: Year 1 14,420 14,420 14,420 14,420 14,420 $72,100 18,540 17,510 16,480 12,360 9,270 $74,160 27,810 23,690 21,630 13,390 12,360 $98,880 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. Click here to view PV table. Your answer is incorrect. Compute the cash payback period for each project. (Round answers to 2 decimal places, eg. 10.50.) Project Bono Project Edge Project Clayton years years years