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. Capital investment Annual net income: Year 1 2 3 4 5 Total Project Bono $164,800 14,420 14,420 14,420 14420 14,420 $72,100 Project Edge Project Clayton $180,250 $208,000 18,540 17,510 16,480 12,360 9,270 $74,160 27,810 23,690 21,630 13,390 12,360 $98,880 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 the factor table. Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.) Project Bono Project Edge Project Clayton years years years