Elite Apparel Inc. is considering two investment projects. The estimated net cash flows from each project are as follows: Year 1 2 3 4 5 Total Plant Expansion $110,000 90,000 78,000 70,000 22,000 $370,000 Retail Store Expansion $92,000 108,000 74,000 52,000 44,000 $370,000 Each project requires an investment of $200,000. A rate of 20% has been selected for the net present value analysis. Present Value of $1 at Compound Interest 6% 10% 0.943 0.890 0.840 0.792 0.747 0.705 0.665 0.627 0.592 0.558 Year 1 2 3 4 5 6 7 8 W 9 10 0.909 0.826 0.751 0.683 0.621 0.564 0.513 0.467 0.424 0.386 12% 0.893 0.797 0.712 0.636 0.567 0.507 0.452 0.404 0.361 0.322 15% 0.870 0.756 0.658 0.572 0.497 0,432 0.376 0.327 0.284 0.247 20% 0.833 0.694 0.579 0.482 0.402 0.335 0.279 0.233 0.194 0.162 D Required: 1a. Compute the cash payback period for each project. 1b. Compute the net present value. Use the present value of $1 table above. If required, round to the nearest dollar. L Plant Expansion Retail Store Expansion Total present value of net cash flow Less amount to be invested Net present value 2. Because of the timing of the receipt of the net cash flows, the offers a higher