Kimmel, Accounting, 6e CALCULATOR PRINTER VERSION BACK NEX Problem 24-1A U3 Company is considering three long-term capital investment proposals. Each investment has a useful each project are as follows. life of 5 years. Relevant data on Project Bono $160,000 Project Edge $175,000 Project Clayton $200,000 Capital investment Annual net income: Year 1 14,000 14,000 14,000 14,000 14,000 $70,000 18,000 17,000 16,000 12,000 9,000 27,000 23,000 21,000 13,000 12,000 $72,00096000 Total Depreciation is computed by the straight-line method with no salvage value. The company's cost of capital is 15%. (Assume occur evenly throughout the year.) that cash flows Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.) Project Bono Project Edge Project Clayton years