Consider the following three investment opportunities:

Project I would require an immediate cash outlay of $$40,000$ and would result in cash savings of $$9,000$ each year for $5$ years.

Project II would require cash outlays of $$7,000$ per year and would provide a cash inflow of $$45,000$ at the end of $5$ years.

Project III would require a cash outlay of $$36,000$ now and would provide a cash inflow of $$60,000$ at the end of $5$ years. $($Ignore income taxes.$)$

Click here to view Exhibit $14$B$-1$ and Exhibit $14$B$-2,$ to determine the appropriate discount factor$($s$)$ using the tables provided.

The discount rate is $10\%.$ Use the net present value method to determine which, if any, of the three projects is acceptable.