N Elite Apparel Inc. is considering two investment projects. The estimated net cash flows from each project are as follows: Year Plant Expansion Retail Store Expansion 1 $136,000 $114,000 111,000 133,000 3 96,000 91,000 4 87,000 64,000 5 27,000 55,000 Total $457,000 $457,000 Each project requires an investment of $247,000. A rate of 15% has been selected for the net present value analysis. Present Value of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 2 0.890 0.826 0.797 0.833 0.694 0.579 3 0.840 0.756 0.658 0.572 0.751 4 0.792 0.683 0.482 5 0.747 0.621 0.712 0.636 0.567 0.507 0.452 0.497 0.402 6 0.705 0.564 0.432 0.335 7 0.665 0.513 0.376 0.279 8 0.467 0.404 0.327 0.233 0.627 0.592 9 0.361 0.424 0.386 0.284 0.247 0.194 0.162 10 0.558 0.322 Required: la. Compute the cash payback period for each project. Cash Payback Period Plant Expansion 2 years Retail Store Expansion 2 years 1b. Compute the net present value. Use the present value of $1 table above. If required, round to the nearest dollar. Plant Expansion Retail Store Expansion Present value of net cash flow total Less amount to be invested Net present value