b$.$ Compute net present value for each project. Based on net present value, which project is preferred?

Gonzalez Company Is conslderlng two new projects with the tallowing net cast' flows The company's required rate ot return on Investments Is 10%. (PV ot Sl. FV ot Sl. PVA ot $1, and FVA of $1) (use epproprlate factor(s) from the tables provlded.) Net Cash Flows Year Initial investment Project I s (32, e) 8,ao 22, goo 11,eao Proiect 2 35 ,a ,a 44,ea . Compute payback perlod for each project Based on payback period, which proJect Is preferred? b. Compute net present value for each proJect Based on net present value, which proJect Is preferred Complete this question by entering your answers in the tabs below. Required A Required 3 Compute net present value for each project. Based on net present value, which project is preferred? (Round your present value factor to 4 decimals. Round your final answers to the nearest whole dollar.) Cash Flows Project 1 Year 1 Year 2 Year 3 Totals Initial investment Net present value Project 2 Year 1 Year 2 Year 3 Totals Initial investment Net present value Based on net present value, which project is preferred?