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Net Present Value-Unequal ulves Project 1 requires an original irvestment of $31,300. The project will yield cash flows of $8,000 per vear for nine years. Prolect 2 has a calculated net present value of $7,700 over a seven-year life. Project 1 could be sold at the end of seven vears for a price of $35,000. Use the Present Value of $1 at Compound Interest and the Present Value of an Anntity of $1 at Compound Interest tables shown below. Present Value of an Annuity of $1 at Compound Interest Present Value of an Annuity of $1 at Compound Intarest a. Determine the net present value of Prolect 1 over a seven vear life with residual value, assuming a minimum rate of return of 20%. If recuired. round to the nearest dollar. 1 b. Which profect provides the greatest net present value