Cesh Payback period, Net Present Value Method, and Analysis McMorris Publications Inc. is considering two new magazine products. The estimated net cash flows from each product are as follows: Year European Hiking Canadian Cycling $135,000 $113,000 111,000 96,000 36,000 131,000 91,000 64,000 54,000 27,000 $455,000 $455,000 Present Value of $1 at Compound Interest 6% 10% 12% 15% 20% Year 0.943 0 .909 0.893 0.870 0.833 0.826 0.797 0.756 0.694 0.751 0.712 0.658 -0.579 0.890 0.840 0.792 0.747 0.705 0.683 0.482 0.621 03402 0.636 0.572 0.5670.497 0.507 0.432 0.452 0.376 0.554 0.335 0.665 0.513 0.279 0.467 0.404 0.327 0.233 0.627 0.592 02424 0.361 0.194 0.284 0.247 0.386 0.322 0.162 Each product requires an investment of $246,000. A rate of 6% has been selected for the net present value analysis Required: 1a. Compute the cash payback period for each project. Cash Payback Period Canadian Cyding 2 years European Hiking 2 years 1b. Compute the net present value. Use the present value of $1 table presented above. If required, use the minus sign to indicate ang Canadian Cyding European Hiking Present value of net cash flow total $445,000 X Amount to be invested Net present value