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 $214,000 Capital investment $172,800 $189,000 Annual net income: 29,160 Year 1 15,120 19,440 24,840 18,360 15,120 17,280 22,680 15,120 14,040 15,120 12,960 12,960 9,720 15,120 $103,680 $77,760 $75,600 Total Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.) yea Project Bono years Project Edge years Project Clayton 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 Edge Project Clayton Project Bono $ Net present value Compute the annual rate of return for each project.(Hint: Use average annual net income in your computation.) (Round answers to2 decimal places, eg. 10.50%) Project Clayton Project Edge Project Bono Annual rate of return Rank the projects on each of the foregoing bases. Which project do you recommend? Annual Net Rate of Return Present Value Cash Payback Project 2 : Bono Edge 2 : 3 4 Clayton