SPBS70 - Module Four Assignment 1. Your athletic department is considering building either a new arena or a new stadium each with an up-front expenditure of $15 million. You estimate that these two projects will produce the following net cash flows: Year Arena Stadium 1 $5,000,000 $20,000,000 2 $10,000,000 $10,000,000 3 $20,000,000 $6,000,000 What are the two projects' net present values, assuming the cost of capital is 10%? What are the two projects' net present values, assuming the cost of capital is 5%? What are the two nroiects' net nresent values. assumino the cost of canital is 15%