1--Carolina Logistics, Inc. is considering three investment opportunities with the following payback periods: 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--Tatiane 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: 8% 9% 10% 1 0.926 0.917 0.909 2 1.783 1.759 1.736 3 2.577 2.531 2.487- 4 3.312 3.24 3.17 5 3.993 3.89 3.791 6 4.623 4.486 4.355 7 5.206 5.033 4.868 8 5.747 5.535 5.335 9 6.247 5.995 5.759 10 6.71 6.418 6.145