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 B Project C 9 Annual cash flows Initial investment $131,500 320,300 $120,550 300,300 $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 Project C b. What is the net present value of each of the projects? (Round your intermediate calculations and final answers to the nearest dollar amount.) Project A Net Present Value Project B Project C