3. Trevoline Company is deciding between two projects. Each project requires an initial investment of $350,000. The projected net cash flows for the two projects are listed below. The revenue is to be received at the end of each year. Trevoline requires a 10% return on its investments. The present value of an annuity of 1 and present value of an annuity factors for 10% are presented below. Use net present value to determine which project should be pursued and explain why. Project A Project B Present Value Present Value of an Periods Cash Cash of 1 at 10% Annuity of 1 at 10% Flows Flows 1 $50,000 $160,000 0.9091 0.9091 2 $200,000 $175,000 0.8264 1.7355 3 $250,000 $175,000 0.7513 2.4869