8.41 Dravid Ltd. is currently evaluating three projects that are independent. The cost of funds can be either 13.6 percent or 14.8 percent depending on their financing plan. All three projects cost the same at $500,000. Expected cash flow streams are shown in the following table. Which projects would be accepted at a discount rate of 14.8 percent? What if the discount rate was 13.6 percent? Project 2 Project 3 $245,125 Project 1 Year 1 0 0 $125,000 $150,000 $375,000 $212,336 $112,500 $74,000 0 2 $500,000 $500,000 3 4