Information for two alternative projects involving machinery investments follows. Project 1 requires an initial investment of $140,000. Project 2 requires an initial investment of $90,000. Assume the company requires a 10% rate of return on its investments. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Project 1 $ 100,000 Project 2 $ 80,000 Annual Amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Income 64,000 20,000 8,000 35,000 18,000 20,000 $ 7,000 $ 8,000 Compute the net present value of each potential investment. Use 7 years for Project 1 and 5 years for Project 2. Assume cash flows occur evenly throughout each year. Ignore the salvage value. (Negative net present values should be indicated with a minus sign. Round your present value factor to 4 decimals. Round your answers to the nearest whole dollar.) Project 1 Chart values are based on: n = i = Select Chart Amount x PV Factor = Present Value Net present value Project 2 Chart values are based on: n 1 = Select Chart Amount x PV Factor Present Value Net present value