I just need help finding the net present value, thank you

PA11-3 Comparing, Prioritizing Multiple Projects [LO 11-1, 11-2, 11-3, 11-6] Hearne Company has a number of potential capital investments. Because these projects vary in nature, initial investment, and time horizon, management is finding it difficult to compare them. Assume straight line depreciation method is used. Project 1: Retooling Manufacturing Facility This project would require an initial investment of $5,600,000. It would generate $1,000,000 in additional net cash flow each year. The new machinery has a useful life of eight years and a salvage value of $1,180,000. Project 2: Purchase Patent for New Product The patent would cost $3,925,000, which would be fully amortized over five years. Production of this product would generate $785,000 additional annual net income for Hearne Project 3: Purchase a New Fleet of Delivery Trucks Hearne could purchase 25 new delivery trucks at a cost of $190,000 each. The fleet would have a useful life of 10 years, and each truck would have a salvage value of $6,500 Purchasing the fleet would allow Hearne to expand its customer territory resulting in $950,000 of additional net income per year. Required: 1. Determine each project's accounting rate of return. (Round your answers to 2 decimal places.) Answer is complete and correct. Accounting Rate of Return Project 1 Project 2 Project 3 7.99 % 20.00 % 20.00 % 2. Determine each projects payback period. (Round your answers to 2 decimal places.) Answer is complete and correct. Project 1 Project 2 Project 3 Payback Period 5.60Years 2.50Years 337Years %, 11%; dExx:"li i sits eal 110 Rust03, taalr1 i s i ia rica pet nni tf ci e3di ft xcl F 1 r lalue o I. Present Value of $1. Future Value Annuity C $1 Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round your intermediate calculations to 4 decimal places and final answers to 2 decimal places.) Answer is complete but not entirely correct. Net Present Value Project 1 Project 2 Project 3 (949,222.00) 1,150,013.75