2. Elite Apparel Inc. is considering two investment projects. The estimated net cash flows from each project are as follows: Each project has an initial investment of $900,000. A rate of 15% has been selected for net present value analysis. Problem 2 Instructions a. Compute the following for each product: i. Cash payback period. ii. The net present value. Use the present value of $1 table appearing in this chapter (Exhibit 2). b. Prepare a brief report advising management on the relative merits of each project. (Minimum two full paragraphs.)