Wildhorse 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 $176,000 $191,000 $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 company's cost of capital is 15%. (Assume that cash flows occur evenly throughout the year) Click here to view PV table (a) Your answer is correct. Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.) Project Bono 3.49 years Project Edge 341 years Project Clayton 3.14 years (b) Your Answer Correct Answer Your answer is incorrect. 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 -89646 $ $ Project Bono Net present value