Norwood, Inc., which has a hurdle rate of 14%, is considering three different independent investment opportunities. Each project has a seven-year life. The annual cash flows and initial Investment for each of the projects are as follows: (Future Value of $1. Present Value of $1, Future Value Annuity of $1. Present Value Annuity of $1.) (Use appropriate factor from the PV tables.) Project A Project 8 14 Annual cash flows Initial investment $131,500 320,300 $120,550 300,300 Project C $109,590 230,300 a. What is the present value of the annual cash flows for each of the three projects? (Round your answers to the nearest dollar amount.) Project A Project B $ 563,911 516,740 Project C $ 400,955 b. What is the net present value of each of the projects? (Round your intermediate calculations and final answers to the nearest dollar amount.) Net Present Value Project A $ 243,611 Project B S 216,440 Project C $ 239,655