Project H requires an initial investment of $100,00 that produces annual cash flows of $45,000 per year for each of the next 3 years. Project T also requires an initial investment of $100,000 and produces cash flows of $30,000 in year 1, $40,000 in year 2, and $70,000 in year 3. Using the NPV technique to determine what should be done in the following situation.

If the discount rate is 10% and the projects are independent what should management choose?