Hardwick Corporation manufactures fine furniture for residential and industrial use. The demand for the company's products has increased tremendously in the past three years. As a result, the company wants to expand its production facility by building a warehouse facility in either Cleveland, Ohio or Alexandria, VA. The company is considering a 10-year expansion project that requires an initial investment of $2.0 million for the Ohio project and $2.55 million for the Virginia project. The variable cost of making each piece of furniture is $350. The price per piece of furniture depends on the size, weight, and quality of wood used but the average price is $1,350. The fixed cost of the project is $2 million. It is the accounting policy of the company to depreciate fixed assets using straight-line method over the life of the project, after which the assets will be worthless. The company faces a tax rate of 35%. The finance department of the company has prepared the cash flows from the projected sales and expenses figures for the two projects