Gooble Co. is considering three investment opportunities having cash flows as described below: Project I would require a cash outlay of $11,000 now and would provide a cash inflow of $32,000 at the end of 8 years. Project II would require cash outlays of $3,000 per year for each of the 8 years and would provide a cash inflow of $30,000 at the end of 8 years. At the end of 8 years there would be a $1,500 salvage of the equipment Project III would require an immediate cash outlay of $11,000 and would result in cash savings of $4,000 each year for 8 years. Old equipment could be sold up front for $2,000. Required: If Gooble has a required rate of return of 10%, determine which, if any, of the three projects is acceptable. If only one project could be accepted, which should be accepted based solely on this analysis. Use the NPV method