b$)$ A company is considering two mutually exclusive projects requiring an initial capital outlay of Kshs$.12,000$ each with a useful life of $4$ years. The company required rate of return is $7\mathrm{.}8\%$ and the corporate tax is $40\%.$ The projects will be depreciated on a reducing balance basis.

$\backslash$table$[[$Year$,1,2,3,4,5],[$Project A$,4,000,4,000,4,000,4,000,5,000],[$Project B$,6,000,3,000,2,000,5,000,5,000]]$

Required:

Evaluate the project using capital budgeting techniques that take into account the concept of time value of money.