Courtney Limited has capital project opportunities each of which would require an initial investment of $$400,000.$ Details for each opportunity are shown below:

Investment $1$ Investment $2$

Investment in manufacturing equipment $ $400,000$

Investment in working capital $ $400,000$

Net annual cash inflows $ $100,000$ $ $100,000$

Life of the project $12$ Years $12$ Years

CCA $30\%$

The robotic equipment would have a salvage value of $$75,000$ in $12$ years. The equipment would be depreciated over $12$ years. At the end of $12$ years, the investment in working capital would be released for use elsewhere. The company requires an after$-$tax return of $12\%$ on all investments. The tax rate is $30\%.$

Required:

Compute the net present value of each investment project. $($Hint: Use Microsoft Excel to calculate the discount factor$($s$).)($Do not round intermediate calculations and PV factor. Round the final answers to the nearest whole dollar.$)$