Flamingo Corporation is considering an expansion. Project A would involve opening a new location in Las Vegas, and Project I would involve opening a new location in Reno. Project A Project B instal cash outlay 5(1.400,000) $(1.400,000) Upgrades required in year 3 (150,000) (320,000) Future cash inflows: Year 1 $ 600,000 s Year 2 600,000 Year 3 600,000 400,000 Year 4 600,000 900,000 Year 5 600,000 1,000,000 Total cash inflows $3,000,000 $ 2,300,000 The company's cost of capital is 6%, which is an appropriate discount rate. Required: ) Compute the net present value of each project. (6 marks) b) Assume Flamingo Corporation has limited funds to invest and is considering two projects, both with positive net present values, and of different project scres. Explain (no calculations needed) what capital budgeting method should be used to ranked and evaluated. (2 marks)