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Cash Payback Period, Net Present Value Method, and Analysis Elite Apparel Inc. is considering two investment projects. The estimated net cash flows from each project are as follows: Each project requires an investment of $280,000. A rate of 15% has been selected for the net present value analysis. Present Vale of $1 at Comnound Tnterest Required: 1a. Compute the cash payback period for each project. 1a. Compute the cash payback period for each project. 1b. Compute the net present value. Use the present value of $1 table above. If required, round to the nearest dollar. 2. Because of the timing of the receipt of the net cash flows, the offers a higher