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 L$1. PVA of $1. and FVA of $1) (Use appropriate factor(s) from the tables provided.) Year Initial investment 1 2. Net Cathrows Project 1 Project 2 $(60,000) $(56,000) 15,000 35,000 27.800 20,000 21,500 20,000 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 Year 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 Cumulative Net Cash Flows Cumulative Net Net Cash Flows Net Cash Cash Flows Flows Initial investment $ (60.000) $ (56.000) Year 1 15.000 Year 2 27.800 0 Year 3 21,500 0 Payback period Project 1 Payback period years Project 2 Payback period years Based on payback period which project is preferred? Renda Required B >