Calculate the net present value for each project.

Project Main

The Three Stages partnership is considering three long-term capital investment proposals. Each investment has a useful life of five years. Relevant data on each project are as follows: Project Main Project Odyssey Project Duo Capital investment: $159,000 $169,600 $220,000 Annual net income: Year 1 $13,780 $19,080 $28,620 N 13,780 18,020 23,320 3 13,780 16,960 22,260 4 13,780 12,720 13,780 5 13,780 9,540 12,720 Total $68,900 $76,320 $100,700 Depreciation is calculated by the straight-line method and there is no salvage value. The company's cost of capital is 15%. (Use average net annual cash flows in your calculations.) (a) Your answer has been saved. See score details after the due date. Calculate the cash payback period for each project. (Round answers to 2 decimal places, e.g. 15.25.) Payback period Project Main 3.49 years Project Odyssey 3.29 years Project Duo 3.23 years Attempts: 1 of 1 used (b) Calculate the net present value for each project. (If the answer is negative