Ciara Corp. is considering two mutually exclusive projects. The (after-tax) project cash flow for each project and year is given below:

Year	Project A	Project B
0	-51,000	-67,000
1	20,000	30,000
2	25,000	25,000
3	30,000	20,000
4		15,000
5		10,000

The relevant discount rate is 10% for both projects.

1. What is the net present value of project A?

2. What is the net present value of project B?

3. What is the equivalent annual annuity (annualized NPV) of project A?

4.What is the equivalent annual annuity (annualized NPV) of project B?