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In: AccountingElite Apparel Inc. is considering two investment projects. Theestimated net cash flows from each project...Elite Apparel Inc. is considering two investment projects. Theestimated net cash flows from each project are as follows:YearPlant ExpansionRetail Store Expansion1$102,000$85,000283,000100,000372,00068,000465,00048,000520,00041,000Total$342,000$342,000Each project requires an investment of $185,000. A rate of 10%has been selected for the net present value analysis.Present Value of $1 at CompoundInterestYear6%10%12%15%20%10.9430.9090.8930.8700.83320.8900.8260.7970.7560.69430.8400.7510.7120.6580.57940.7920.6830.6360.5720.48250.7470.6210.5670.4970.40260.7050.5640.5070.4320.33570.6650.5130.4520.3760.27980.6270.4670.4040.3270.23390.5920.4240.3610.2840.194100.5580.3860.3220.2470.162Required:1a. Compute the cash payback period for eachproject.Cash Payback PeriodPlant ExpansionRetail Store Expansion1b. Compute the net present value. Use thepresent value of $1 table above. If required, round to the nearestdollar.Plant ExpansionRetail Store ExpansionPresent value of net cash flow total$$Less amount to be invested$$Net present value$$2. Because of the timing of the receipt of thenet cash flows, the offers ahigher .