5 You are the head of the project selection team at Broken Arrow Records. Your team is considering three different recording projects Based on past history, Broken Arrow expects at least a rate of return of 18%. Given the following information for each project, which one should be Broken Arrow's first priority? Should Broken Arrow fund any of the other projects? (Use the NPV function in Excel to solve this problem), Project Time Fade Away 20 points cibook Year Investment Revenue Stron 500,000 0 1 500.000 2 75,000 3 16,000 . 13,000 5 References Project: On the Beach Tent Inventant Rostam 500,000 500,000 2 100,000 2 22.000 20,000 9.000 Project Tonight's the Night Year Investment Stran 0 500.000 500,000 106,000 69,000 21,000 1.000 5 Which project should be Broken Arrow's first priority? t's NPV is 20 points eBook References Which is the second most favorable project? The NPV for the second most favorables Should the second project be undertaken? 5 Should the second project be undertaken? 20 points eBook References Which is the third most favorable project? The NPV for the third most favorables Should the third project be undertaken