A certain project has a project cost of $387,000 and the annual inflows resulting from the product created is $64,000. What is the Payback Period? Assume that $654,980 is to be invested in a project whose annual projected cash flows are as follows: Year 1 = $135,678, Year 2 = $156,560, Year 3 = $233,980, and Year 4 = $298,000. Assume that the required rate of return is 6.50%. 1. Compute the NPV directly (i.e., without using the Microsoft Excel NPV or PV functions). Be sure to show your work. 2. Should the project be pursued? Why or why not? Assume that $1,285,673 is to be invested in a project whose annual projected cash flows are as follows: Year 1 = $235,678, Year 2 = $267,854, Year 3 = $298,054, Year 4 = $314,567, and Year 5 = $325,678. Assume that the required rate of return is 5.25%. 1. Compute the NPV by using Microsoft Excel's NPV function. Be sure to show your work. 2. Should the project be pursued? Why or why not? A company has two projects that are under evaluation. The project investment costs, annual projected cash flows, and required rates of return are shown below: Project 1 Project 2 Rate of Return:0.065 0.065 Project Cost: -$1,397,654-$1,619,835 Year 1 $245,367 $267,345 Year 2 $302,542 $343,563 Year 3 $316,543 $367,834 Year 4 $367,843 $432,098 Year 5 $450,425 $589,435 1. Compute the NPV for each project using Microsoft Excel NPV's function. Be sure to show your work