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 321, FV of $1, PVA of $_1, and FVA of $_1} {Use appropriate factorial: from the tables provided} Net Cash Flows Year Project 1 Project 2 Initial investment $(68,BBB) $(55,SBB) 1. 15, see 35, see 2. 2?, 403 15, Bee 3 . 22, see 22, see 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 queson by entering your answers in the labs below. Required A Required B Compute payback period for each project. Based on payback period, which project is preferred? (Cumulative net cash outows must be entered with a minus sign. Do not round your intermediate calculations. Round your Payback Period answer to 2 decimal places.) Compute payback period for each project. Based on payback period, which project is preferred? (Cumulative net cash outows must he entered with a minus sign. Do not round your intermediate calculations. Round your Payback Period answer to 2 decimal places.) $ mm 5 (assum Based on payback period which project' Is preferred