A business is evaluating two mutually exclusive projects. Project A requires an immediate investment of $3000, plus another $4000 in three years. It would produce a profit of $3000 in the second year, $9,000 in the fourth year, and $6,000 in the seventh year. Project B requires an immediate investment of $6000, another $7000 in two years, and a further $5000 in four years. It would produce an annual profit of $5400 for seven years. Neither project would have any residual value after seven years. Which project should be selected if the required rate of return is 7%? What is the economic advantage, in current dollars, of the preferred project?