Consider the following cash flows on two mutually exclusive projects:

The cash flows of Project A are expressed in real terms, whereas those of Project B are expressed in nominal terms. The appropriate nominal discount rate is 11 percent and the inflation rate is 5 percent.

Calculate the NPV for each project. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Year	Project A		Project B
0	$	55,000	$	70,000
1		35,000		34,000
2		30,000		43,000
3		25,000		46,000