Cash payback period, net present value method, and analysis Elite Apparel lnc. is considering two investment projects. The estimated net cash flows from each project are as follows: Each project requires an investment of $278,000. A rate of 15% has been selectied for the net present value analysis. Requiredt 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