Beam company is considering two mutually exclusive projects, $S$ and $L,$ your firm's required rate of return is $10\%$

Project cash flows for project $S$ are estimated to be: $(-$$$100\mathrm{.}000),559,000,$$$59,000$ in years $0,1,$ and $2,$ respectively.

Project cash flows for project L$.$ are estimated to be: $(-5100,000),$$$33,500,533,500,$$$33,500.$ $$33,500,$ in ycars $0,1,2,3,$ and $4,$ respectively.

a$.$ What is the NPV of project S$?$ What is the NPV of project L$.?$

b$.$ Which project should you choose and why? Use the replacement chain approach and show all calculations in detail.

C$.$ What if you chose to use the Equivalent Annual Annuity approach instead? Show how you would do that with all calculations.