Concord Company is considering two new projects, each requiring an equipment investment of $100,600. Each project will last for three years and produce the following cash flows Year Cool Hot 1 $39.800 $43,800 2 44,800 43,800 3 49.800 43,800 134,400 $131,400 The equipment will have no salvage value at the end of its three-year life. Concord Company uses straight-line depreciation and requires a minimum rate of return of 12% Present value data are as follows Present Value of 1 Period 12% 2 089286 2 0.79719 3 071178 Present Value of an Annuity of 1