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.) Annual cash flows Initial investment Project A $131,610 321,400 Project B $120,660 301,400 Project C $109,700 231,400 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.) Net Present Value Project A Project B c. What is the profitability index of each of the projects? (Round the intermediate calculation to the nearest dollar amount. Round your answers to 2 decimal places.) Profitability Index Project A Project B Project C d. In what order should Norwood prioritize investment in the projects? OBAC O A,B,C OC, A, B