LMN Corporation is analyzing two investment opportunities, Investment L and Investment M, with the following details:

• Investment L: Cost of Capital - 11%, Initial Investment - $280,000, Cash Inflow Year 1 - $60,000, Cash Inflow Year 2 - $70,000, Cash Inflow Year 3 - $80,000
• Investment M: Cost of Capital - 12%, Initial Investment - $320,000, Cash Inflow Year 1 - $70,000, Cash Inflow Year 2 - $80,000, Cash Inflow Year 3 - $90,000 Perform a scenario analysis for Investment L and Investment M by considering optimistic, pessimistic, and most likely scenarios for cash inflows. Evaluate the net present value under each scenario and recommend the most favorable investment.