United Bankshores, Inc. wishes to evaluate three capital investment proposals by using the net present value method. Relevant data related to the proposals are summarized as follows: Branch Office Computer System Upgrade Install Internet Bill-Pay Expansion Amount to be invested $871,440 $563,675 $259,826 Annual net cash flows Year 1 Year 2 Year 3 399,000 371,000 339,000 275,000 248,000 220,000 164,000 113,000 82,000 Present Value of $1 at Compound Interest 1090 0.909 0.826 0.751 0.683 0.621 0.564 0.513 0.467 0.424 0.386 20% 0.833 0.694 0.579 0.482 0.402 0.335 0.279 0.233 0.194 0.162 Year 690 0.943 0.890 0.840 0.792 0.747 0.705 0.665 0.627 0.592 0.558 12% 0.893 0.797 0.712 0.636 0.567 0.507 0.452 0.404 0.361 0.322 1500 0.870 0.756 0.658 0.572 0.497 0.432 0.376 0.327 0.284 0.247 2 4 6 7 8 10