EX2-6 (Algo) You are the head of the project... You are the head of the project selection team at Broken Arrow Records. Your team is considering three different recording projects. Based on past history, Broken Arrow expects at least a rate of return of 20%. Given the following information for each project, which one should be Broken Arrow's first priority? Should Broken Arrow fund any of the other projects? (Use the NPV function in Excel to solve this problem). Project: Time Fades Away Year Investment 0 300,000 1 2 3 Revenue Stream 0 300,000 85,000 19,000 14,000 11,000 5 Project: On the Beach Year Investment 0 500.000 1 2 3 Tevenue stream 0 500,000 65,000 21,000 25,000 11,000 5 Project: Tonight's the Night Revenue Stream Year Investment 500.000 1 2 3 4 500.000 119.000 77.000 18,000 12.000 Which project should be Broken Arrow's first priority? Which project should be Broken Arrow's first priority? It's NPV is COS Which is the second most favorable project? The NPV for the second most favorable is Should the second project be undertaken? Which is the third most favorable project? The NPV for the third most favorable is Should the third project be undertaken