12. (8 points) The Hershey Company is planning their capital expenditure budget and has to decide which of the following two projects to invest in. Each project will last for three years and produce the following annual cash flows. Year 1 2 3 Astaire $ 20,00o 25,000 30, 000 $75,000 Rogers 30,000 30,000 30,000 $90 000 Hershey requires a minimum rate of return of 8%. Instructions (a) Assuming that each project requires an initial investment of $70,000, compute the net present value of each project. (use tables from Appendix G) (b) Which project should Hershey select? Why