Check my work Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $127,400. Project 2 requires an initial investment of $92,700. Assume the company requires a 10% rate of return on its investments. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income 66,950 Project 1 Project 2 $ 100,800 $ 78,600 32,960 18,200 18,540 8,240 20,600 $ 7,410 $ 6,500 Compute the net present value of each potential investment. Use 7 years for Project 1 and 5 years for Project 2. Note: Negative net present values should be indicated with a minus sign. Round your present value factor to 4 decimals. Round your answers to the nearest whole dollar. Present Value Present Value of Project 1 Net Cash Flows of Annuity at 10% Net Cash Flows Years 1-7 $ 0 Initial investment Net present value Present Value Project 2 Net Cash Flows x of Annuity at 10% Present Value of Net Cash Flows Years 1-5 $ 0 Net present value