There are two projects under consideration by the Rainbow factory. Each of the projects will require an initial investment of $34,000 and is expected to generate the following cash flows: First Year Second Year Third Year Alpha Project Beta Project $32,000 7,500 $23,000 24,000 Total $5,500 $60,500 28,500 60,000 (Click here to see present value and future value tables) A. If the discount rate is 12%, compute the NPV of each project. Round your present value factor to three decimal places and final answer to answer to 2 decimal places. Alpha Project $ Beta Project $ B. Which project should be recommended. Alpha Feedback Check My Work Discount the after-tax cash flows in accordance to the years they occur using the appropriate time value of money table. The total amount of all cash flows represents the net present value. Compare the amounts for both Alpha and Bet