A manufacturing firm is considering two mutually exclusive projects, both of which have an economic service life of one year with no salvage value. The initial cost and the net year-end revenue for each project are given in the table below. Assume that both projects are statistically independent of each other. B Click the icon to view the additional data for each project. (a) If you are an expected-value maximizer, which project would you select? i More Info The expected value of NPW of Project 1 is $ (Round to the nearest dollar.) The expected value of NPW of Project 2 is $ (Round to the nearest dollar.) Which project would you select? Choose the correct answer below. First Cost O Project 1 O Project 2 Project 1 ($1,000) Probability Revenue 0.25 $2,200 0.50 3.200 0.25 3,900 Project 2 ($900) Probability Revenue 0.35 $3,000 0.30 3,500 0.35 5,000 Net revenue, given in PW (b) If you also consider the variance of the project, which project would you select? Print Done The variance of NPW of Project 1 is dollars squared. (Round to the nearest who The variance of NPW of Project 2 is dollars squared. (Round to the nearest whole number.) Which project would you select considering the expected value of NPW and its variance? Choose the correct answer below. O A. It is not a clear case OB. Project 2 OC. Project 1