Elite Apparel Inc. is considering two investment projects. The estimated net cash flows from each project are as follows: Year 1 2 Plant Expansion $131,000 108,000 Retail Store Expansion $110,000 129,000 3 93,000 88,000 4 84,000 62,000 5 26,000 53,000 Total $442,000 $442,000 Each project requires an investment of $239,000. A rate of 12% has been selected for the net present value analysis. Present Value of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 0.890 0.826 0.797 0.756 0.694 3 0.840 0.751 0.712 0.658 0.579 4 0.792 0.683 0.636 0.572 0.482 5 0.747 0.621 0.567 0.497 0.402 6 0.705 0.564 0.507 0.432 0.335