CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Drake Corporation is reviewing an investment proposal. The initial cost and estimates of the book value of the investment 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. All cash flows are assumed to take place at the end of the year. The salvage value of the investment at the end of each year is equal to book value. There would be no salvage value at the end of the investment's life Annual Net Income 0 Investment Proposal Initial Cost Annual and Book Cash Flows Value $105,900 69,300 $45,700 41,600 40,400 21,300 35,800 8.200 31,000 25,300 $9,100 12,700 15,500 17,900 17.100 Drake Corporation uses an 11% target rate of return for new investment proposals Click here to view.ptable What is the cash payback period for this proposal (Round answer Cash payback period years What is the annual rate of return for the investment (Round answer to 2 decimal places, eg. 10.10.) Pa I 2000-2018 Inc. A s Reserved. A Dife Wien MacBook Pro 10 PPP