The Serena Company is evaluating two mutually exclusive projects with three-year lives. Each project requires an investment of $10,000. The projects have the following cash inflows received at the end of each year. 
a. Determine the net present value of each project using an 8% discount rate.
b. What can you conclude about the effect the timing of the cash flows has upon a project's net present value?
Definitions:
Cultural Variations
Differences in the practices, traditions, and norms observed among various cultures.
Independent
The state or condition of being free from outside control or influence, capable of thinking or acting for oneself.
Interdependent
this describes a relationship among entities where they are reliant on each other, such that the actions of one affect or are affected by the actions of the other.
Relational Focus
The emphasis on building and maintaining positive relationships within a team or organization as a key component of success.
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