Elite Apparel Inc. is considering two investment projects. The estimated net cash flows from each project are as follows: Retail Store Expansion Year 1 2 3 4 5 Total Plant Expansion $174,000 142,000 123,000 111,000 35,000 $585,000 $145,000 171,000 117,000 82,000 70,000 $585,000 Each project requires an investment of $316,000. A rate of 12% has been selected for the net present value analysis.. Year 1 2 4 5 6 7 8 9 10 Present Value of $1 at Compound Interest 6% 10% 12% 15% 0.893 0.870 0.797 0.756 0.712 0.658 0.636 0.572 0.567 0.497 0.507 0.432 0.452 0.376 0.404 0.327 0.361 0.284 0.322 0.247 Required: 0.943 0.890 0.840 0.792 0.747 0.705 0.665 0.627 0.592 0.558 0.909 0.826 0.751 0.683 0.621 0.564 0.513 0.467 0.424 0.386 1a. Compute the cash payback period for each project. 20% 0.833 0.694 0.579 0.482 0.402 0.335 0.279 0.233 0.194 0.162 1b. Compute the net present value. Use the present value of $1 table above. If required, round to the nearest dollar. 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, thei offers a higher