How to solve

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:

$\backslash$table$[[$Year$,$Plant Expansion,Retail Store Expansion$],[1,$$ $450,000,$$ $500,000],[2,450,000,400,000],[3,340,000,350,000],[4,280,000,250,000],[5,180,000,200,000],[$Total$,$$$1,700,000,$$$1,700,000]]$

Each project requires an investment of $$900,000.$ A rate of $15\%$ has been selected for the net present value analysis.

$\backslash$table$[[$Present Value of $$1$ at Compound Interest$],[$Year$,6\%,10\%,12\%,15\%,20\%$