Elite Apparel Inc. is considering two investment projects. The estimated net cash flows from each project are as follows

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Elite Apparel Inc. is considering two investment projects. The
estimated net cash flows from each project are as follows:
Each project requires an investment of $300,000. A rate of 6%
has been selected for the net present value analysis.
Required:
1a. Compute the cash payback period for
each project.
1 year2 years3 years4 years5 years
1 year2 years3 years4 years5 years
1b. Compute the net present value. Use
the present value of $1 table above. If required,
round to the nearest dollar.
2. Because of the timing of the receipt
of the net cash flows, the
plant expansionretail store expansion
offers a higher
net present valuenet cash flow
.