Elite Apparel Inc. is considering two investment projects. The estimated net cash flows from O each project are as follows: Year Plant Expansion 1 $ 450,000 2 3 4 450,000 340,000 280,000 180,000 $1,700,000 5 Total Retail Store Expansion $ 500,000 400,000 350,000 250,000 200,000 $1,700,000 Each project requires an investment of $900,000. A rate of 15% has been selected for the net present value analysis. Instructions 1. Compute the following for each product: 2. A. Cash payback period. B. The net present value. Use the present value of $1 table appearing in this chapter (Exhibit 2). Prepare a brief report advising management on the relative merits of each project.