9 A new investment project is proposed. The required initial investment is $100.000 and the expected salvage value is $15,000 at the end of 3 years. A 12% return on investment is desired. What should be the minimum annual net cash flows over three years? Year 0 1 Cash Flow -100,000 X X X+ 15,000 2 3 Given: cash flow series, rate of retum = 12%, N= 3 years Find: X, When PW=0 10 Consider the following cash flow series. Assume that the firm's MARR is 10%. $49 $33 $25 $20 o 1 3 2 years $100 Which is the project IRR value and Future worth (FW) based on MARR