Gonzalez Company is considering two new projects with the following net cash flows. The company's required rate of return on investments is 10%. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Net Cash Flows Year Project 1 Initial investment $(36,000) 1. 9,000 2. 3. 27,000 14,000 Project 2 $(84,000) 35,000 25,000 40,000 a. Compute payback period for each project. Based on payback period, which project is preferred? b. Compute net present value for each project. Based on net present value, which project is preferred? Complete this question by entering your answers in the tabs below. Required A Required B Compute net present value for each project. Based on net present value, which project is preferred? Note: Round your present value factor to 4 decimals. Round your final answers to the nearest whole dollar. Net Cash Flows Present Value Factor Present Value of Net Cash Flows Project 1 Year 1 $ 9,000 Year 2 27,000 Year 3 14,000 Totals $ 50,000 $ 0 Initial investment Net present value SA $ 0 Project 2 Year 1 Year 2 Year 3 Totals $ 35,000 25,000 40,000 $ 100,000 0 Initial investment Net present value $ 0 Drov