1--Carolina Logistics, Inc. is considering three investment opportunities with the following payback periods: Terms Project X Project Y Project Z Payback period 3 years 2.5 years 2.8 years Use the decision rule for payback to rank the projects from most desirable to least desirable, all else being equal, 2--A company is considering an iron ore extraction project that requires an initial investment of $508,000 and will yield annual cash inflows of $156,000 for four years. The company's discount rate is 9%. What is the NPV of the project? Present value of an ordinary annuity of $1