Question: Axis Corp. is studying two mutually exclusive projects. Project Kelvin involves an overhaul of the existing system; it will cost $10,000 and generate cash inflows

Axis Corp. is studying two mutually exclusive projects. Project Kelvin involves an overhaul of the existing system; it will cost $10,000 and generate cash inflows of $10,000 per year for the next 3 years. Project Thompson replaces the existing system; it will cost $220,000 and generate cash inflows of $50,000 per year for 6 years. Using a(n) 9.18% cost of capital, calculate each project's NPV, and make a recommendation based on your findings. The NPV of project Kelvin is $ . (Round to the nearest cent.)
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