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

Capital investment $174,400 $190,750 $214,000

Annual net income: Year 1 15,260 19,620 29,430

2 15,260 18,530 25,070

3 15,260 17,440 22,890

4 15,260 13,080 14,170

5 15,260 9,810 13,080

Total $76,300 $78,480 $104,640

Depreciation is computed by the straight-line method with no salvage value. The companys cost of capital is 15%. (Assume that cash flows occur evenly throughout the year.) Click here to view PV table.

Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.)

Project Bono: ________ years

Project Edge: ________years

Project Clayton: _______years