Consider the following cash flows on two mutually exclusive projects: Year Project A Project B 0 $ 51,000 $ 66,000 1 31,000 30,000 2 26,000 39,000 3 21,000 42,000 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 14 percent and the inflation rate is 5 percent. Calculate the NPV for each project.