Gonzalez Company is considering two new projects with the following not 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 $13 (Use appropriate factor(s) from the tables provided) Net Cash Flows Year Project 1 Project 2 Initial investnent $(60,000) $(57,500) 1. 15,000 35,000 2. 33,200 15,000 3. 20,000 25,000 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 payback period for each project. Based on payback period, which project is preferred? (Cumulative net cash outflows must be entered with a minus sign. Do not round your intermediate calculations. Round your Payback period answer to 2 decimal places) Project 1 Project 2 Year Cumulative Net Cash Flows Cumulative Net Net Cash Cash Flows Flows Net Cash Flows Initial investment $ (60,000) $ (57,500) 0 0 2 3 Payback period Project 1 Payback period Project 2 Payback period Based on payback period, which project is preferred? years years Net Cash Flows Year Project 1 Project 2 Initial investment $(60,800) $(57,500) 1. 15,800 35,000 2. 33,200 15,899 3. 20,000 25,800 a. Compute payback period for each project. Based on payback perlod, 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? (Round your present value factor to 4 deqimals. Round your final answers to the nearest whole dollars) Net Cash Present Value Present Value of Net Flows Factor Cash Flows Project 1 Year 1 $ 0 $ Year 2 Year 3 Totals $ Initial investment Net present value Project 2 Year 1 Year 2 Year 3 Totals $ 0 Initial investment Net present value Based on net pesent value, which project is preferred? $ 5 0