8 6.66 00 Check my work Gonzalez Company is considering two new projects with the following net cash flows. The company's required rate of return on investments is 10%. (PV of $1. EV of $1. PVA of $1, and EVA of S1) (Use appropriate factor(s) from the tables provided.) points Net Cash Flows Project 21 Year Project 1 Initial investment $(60,000) eBook 1. 2. 15,000 3. 30,200 18,500 Print References $(59,000) 35,000 20,000 20,000 a. Compute payback period for each project. Based on payback period, which project is preferred? b. Compute net present value for each project. Based on net present value, which project is preferred? Complete this question by entering your answers in the tabs below. Required A Required B Compute payback period for each project. Based on payback period, which project is preferred? (Cumulative net cash outflows must be entered with a minus sign. Do not round your intermediate calculations. Round your Payback Period answ to 2 decimal places.) Year Initial investment Vane Project 1 Net Cash Flows Project 2 Cumulative Net Cash Flows Net Cash Flows Cumulative Net Cash Flows $ (60,000) $ (59,000)