x 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 $172,800 Project Edge $189,000 Project Clayton $206,000 Capital investment Annual net income: Year 1 19.440 29,160 24,840 18,360 17,280 22.680 15,120 15,120 15,120 15,120 15.120 $75,600 14,040 12,960 9,720 $77,760 12,960 $103.680 Depreciation is computed by the straight-line method with no salvage value. The company's cost of capital is 15% 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 years Project Edge years Project Clayton years eTextbook and Media Compute the net present value for each project. (Round answers to O decimal places, e.g. 125. If the net present value is negative Project Bono Project Edge Project Clayton Net present value $ e Textbook and Media Compute the annual rate of return for each project. (Hint: Use average annual net income in your computation.) (Round answ Project Bono Project Edge Project Clayton Annual rate of return eTextbook and Media Rank the projects on each of the foregoing bases. Which project do you recommend? Project Cash Payback Net Present Value Annual Rate of Return Bono Edge Clayton The best project is