A company is considering two alternative investment opportunities, each of which requires an initial cash outlay of $110,000. The expected net cash flows are:

	Project A	Project Z	Periods
Year 1	$30,000	$44,000	1
Year 2	$70,000	$30,000	2
Year 3	$44,000	$70,000	3
Totals:	$144,000	$144,000

(1) Use the present values information given to find the NPV of the cash flows associated with each project, discounted at 12% (Show work):

2.) What is each projects payback period?

3.) Based on the net present values, which project is the better investment or are they equally beneficial. Give 1 quantitative & 2 qualitative reasons for your decision?