A company is considering two alternative investment opportunities, each of which requires an initial cash outlay of $110,000. The expected net cash flows from the two projects follow: Project A Project Z Year 1 $ 30,000 $ 44,000 Year 2 44,000 70,000 Year 3 70,000 30,000 Totals $144,000 $144,000 Required: (1) Based on a comparison of their net present values, and assuming the same discount rate (greater than zero) is required for both projects, which project is the better investment? (2) Both Projects are discounted at 12%. Prove your answer (hint: Utilize the time value of money tables).