Cash payback Period, Net Present Value Method, and Analysis Elite Apparel Inc., is considering two investment projects. The estimated net cash flows from each project are as follows: Each project requires an investment of $900,000. A rate of 15% has been selected for the net present value analysis. Required: Compute the cash payback period for each project. Compute the net present value. Use the present value of $1 table above. If required, round to the nearest dollar. Because of the timing of the receipt of the net cash flows, the offers a higher