Problem 26-5A (Part Level Submission) 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 $164,800 Project Edge $180,250 Project Clayton $204,000 Capital investment Annual net income: Year 1 NM 14,420 14,420 14,420 14,420 14,420 $72,100 18,540 17,510 16,480 12,360 9,270 $74,160 27,810 23,690 21,630 13,390 12,360 in Total $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.) Click here to view PV table. Click here to view PV of Annuity table. (a) Compute the cash payback period for each project. (Round answers to 2 decimal places, e.g. 10.50.) Project Bono years Project Edge years Project Clayton years