Current Attempt in Progress Blossom 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 $185,000 $202,000 Capital investment $170,000 Annual net income: Year 1 14,700 18,900 28,350 2 14,700 17.850 24,150 3 14,700 16,800 22,050 13,650 4 14,700 12,600 un 5 14,700 9,450 12,600 Total $73,500 $75,600 $100,800 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 the factor table. 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 3.41 years Project Clayton 3.12 years Rank the projects on each of the foregoing bases. Which project do you recommend? Net Present Value Project Cash Payback Annual Rate of Return Bono Edge Clayton The best project is