Cash payback period, net present value method, and analysis 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 $182,000. A rate of 10% has been selected for the net present value analysis. Required: 1a. Compute the cash payback period for each project. 1b. Compute the net present value. Use the present value of $1 table above. If required, round to the nearest dollar. Total present value of net cash flow Less amount to be invested Net present value 2. Because of the timing of the receipt of the net cash flows, the plant expansion offers a higher net present value