Net Present Value-U Project requires an original investment of $85,000. The project will eid cash flows of $15,000 per year for eight years. Project 2 has a computed net present value of $20,500 over a six-year life. Project 1 could be sold at the end of six years for a price of $70,000 Use the Present Value of $1 at Compound Interest and the Present Value of an Annuity of $1 at Compound Interest tables shown be Present Value of $1 at Compound Interest Year 10% 15% 20% 1 0.943 0908 0.893 0870 0,833 2 0.890 0.826 6.797 0.756 3604 0.040 0751 0.712 0.579 0.792 0.36 3 0.747 0.621 0.367 0372 6.482 0.497 0402 0.705 0.564 0.432 0.335 8.513 0.452 0.376 0.279 0.404 0.327 0.233 0.392 0424 0.301 0.204 0.104 30 0.558 0306 0.322 0247 0.162 Present Value of an Annuity of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 6.943 0.909 0.893 0.470 0833 2 1833 1.736 1.490 1436 1538 " 2873 2.487 3.106 3.465 3.170 3.037 3.455 2.599 4.212 3.791 3405 3.353 3.991 4917 4.355 4311 3.75 3336 5.382 4.368 4344 4.300 3605 . 310 $335 3837 . 6.802 5799 5.329 10 6.345 5650 775 5.019 031 Determine the net present value of Project 1 vers year fe, with residual value, assuming a minimum rate of return of 10% 37 required, round to the nearest dollar