Waterway Corporation is reviewing an investment proposal. The initial cost is $103.700. Estimates of the book value of the imestment at the end of each year, the net cash flows for each year, and the net income for each year are presented in the schedule below. Allash flows are assumed to take place at the end of the year. The salvace value of the investment at the end of each year is assumed to equal its book value. There would be no salvage value at the end of the investment's life Investment Proposal Book Annual Annual Value Cash Flows Net Income $70.500 $45.200 $12000 43000 40.500 13000 21.900 36.000 14.900 7.400 30.400 15.900 0 24.190 16.790 2 4 Waterway Corporation uses an 11% target rate of return for new investiment proposals. Click here to view PW tatile What is the cash payback period for this proposat? (Round answer to 2 decimal places, eg. 10.50) Gash payback period years (b What is the annual rate of return for the investment? [Round answer to 2 decimal places, eg. 10.50%) Annual rate of return for the investment % to What is the net present value of the investment? (If the net present value is negative, use either a nemove sin preceding the numbere -45 or parentheses (45. Round answer to decimal places, 125. For calculation purposes, use S decimal places as displayed in the factor doble provided.) Net present value 5