The management of Style Networks Inc. is considering two TV show projects. The estimated net cash flows from each project are as follows: Year After Hours Sun Fun 1. $550000 $590,000 2. 550,000 590,000 3. 550,000 590,000 4. 550,000 590,000 After Hours requires an investment of $1423950, while Sun Fun requires an investment of $1684450. No residual value is expected from either project. Instructions 1. Compute the following for each project: a. The net present value. Use a rate of 10% and the present value of an annuity of $1 table appearing in this chapter (Exhibit 2). b. A present value index. Round to two decimal places. 2. Determine the internal rate of return for each project by (a) computing a present value factor for an annuity of $1 and (b) using the present value of an annuity of $1 table appearing in this chapter (Exhibit 2). 3. What advantage does the internal rate of return method have over the net present value method in comparing projects?