Your answer is correct. Bramble was presented with a second capital investment that provided similar production facilities as the first one. This investment cost $405,000, has a useful life of 7 years with a salvage value of $16,000. Depreciation is by the straight-line method. During the life of the investment, annual net income and net annual cash flows are expected to be $23,155 and $81,000 respectively. Bramble's 8% cost of capital is also the required rate of return on the investment Compute the cash payback period. (Round answer to O decimal places, e.g. 25.) Cash payback period 5 years e Textbook and Media Attempts: 1 of 3 used X Your answer is incorrect. Compute the annual rate of return (Round answer to 2 decimal places, eg. 15.25%.) Annual rate of return 11.43 % eTextbook and Media Assistance Used Save for Later Attempts: 2 of 3 used Submit