10. Use the table shown below to calculate the present value of $40,000 received five years from now. Assume a 10% interest rate. Present Value of $1 at Compound Interest Year 10% 12% 15% 1 0.909 0.893 0.870 2 0.826 0.797 0.756 3 0.751 0.721 0.658 4 0.683 0.636 0.572 0.621 0.567 0.497 6 0.564 0.507 0.432 7 0.513 0.452 0.376 8 0.467 0.404 0.327 9 0.424 0.361 0.284 10 0.386 0.322 0.247 24. Use the information shown below and the table in Exercise 10 to determine which project has a higher net present value at the end of three years for Bass Corporation. At the end of Year 3, Project 2 can be sold for $45,000. Project 1 Cost $85,000 Project 2 Cost $80,000 Minimum desired rate of return 15% Minimum desired rate of return 15% Expected useful life 3 years Expected useful life 6 years Yearly cash flows to be received: Yearly cash flows to be received: Year 1 $40,000 Year 1 $ 30,000 Year 2 48,000 Year 2 22,000 Year 3 50,000 Year 3 28,000 Total $138,000 Year 4 18,000 Year 5 12,000 Year 6 Total 15,000 $125,000 27. After accepting a number of proposals, what is the next step that management should consider and perform an analysis of?