First United Bank Inc. is evaluating three capital investment projects using the net present value method. Relevant data related to the projects are summarized as follows: Branch Office Computer ATM Kiosk System Expansion Upgrade Expansion Amount to be invested $627,278 $477,631 $232,787 Annual net cash flows: Year 1 347,000 253,000 146,000 Year 2 323,000 228,000 101,000 Year 3 295,000 202,000 73,000 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 7 0.665 0.513 0.452 0.376 0.279 8 0.627 0.467 0.404 0.327 0.233 9 0.592 0.424 0.361 0.284 0.194 10 10 0.558 0.386 0.322 0.247 0.162