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U3 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

Capital investment$164,800$180,250$206,000

Annual net income:Year1 14,42018,540 27,810

2 14,42017,510 23,690

3 14,42016,480 21,630

4 14,42012,360 13,390

5 1 ,44209,270 12,360

Total $72,100$74,160 $98,880

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.)

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(a)

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Compute the cash payback period for each project.(Round answers to 2 decimal places, e.g. 10.50.)

Project Bono

yearsProject Edge

yearsProject Clayton

years