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The Three Stages partnership is considering three long-term capital investment proposals

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The Three Stages partnership is considering three long-term capital investment proposals. Each investment has a useful life of five years. Relevant data on each project are as follows: 
Project Main Project Odyssey Project Duo Capital investment: $159,000 $169,600 $220,000 Annual net income: Year 1 $13,780 $19,080 $28,620 2 13,780 18,020 23,320 3 13,780 16,960 22,260 4 13,780 12,720 13,780 5 13,780 9,540 12,720 Total $68,900 $76,320 $100,700 
Depreciation is calculated by the straight-line method and there is no salvage value. The company's cost of capital is 15%. (Use average net annual cash flows in your calculations.) 
a) Calculate the cash payback period for each project. (Round answers to 2 decimal places, e.g. 15.25.) 

b). Calculate the net present value for each project.