Project $($I$.)$ costs $$5,800$; project $($II$.)$ costs $$20,000$; and project $($III$.)$ costs $$100,000.$ Assume these costs must be paid today, and that each project has no maintenance costs over its lifetime. What is the NPV of each project? Which project$($s$)$ will the Bats owners choose to undertake? Why? Remember they can afford any or all of the projects.

iv$.$ The NPV of project $($I$.)$ is:

v$.$ The NPV of project $($II$.)$ is:

vi$.$ The NPV of project $($III$.)$ is:

vii. The Bats' owners will choose to undertake project$($s$)$