EXERCISE 13-7 Comparison of Projects Using Net Present Value [LO1] Mitchell Company has $30,000 to invest and has two alternative uses of the funds, as shown below. Mitchell Company uses an 8% discount rate: Investment required Annual cash inflows Single cash inflow at the end of 10 years Life of the project Invest in Project Alpha $30,000 $ 8,000 Invest in Project Beta $ 30,000 $ 0 $120,000 10 years 10 years Required: Ignore income taxes. Which investment would you recommend that the company accept? Show all computations using net present value. Prepare separate computations for each investment