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 claytoncapital investment $164,800 $180,250 $204,000 annual net income: year 1 14,420 18,540 27,8102 14,420 17,510 23,6903 14,420 16,480 21,6304 14,420 12,360 13,3905 14,420 9,270 12,360total $72,100 $74,160 $98,880depreciation 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. compute the cash payback period for each project. (round answers to 2 decimal places, e. g. 10.50.)project bono 2.2 9yearsproject edge 2.43 yearsproject clayton 2.06 years