Dorati Inc. is considering two mutually exclusive projects. Dorati used a 15% required rate of return to evaluate capital expenditure projects. Assuming the two projects have the costs and cash flows shown below, determine the NPV for each using a replacement chain. Year Project S $70,000, $50,000,60,000,90,000 and $ 80,000 Project T $100,000,$60,000 and $ 70,000 Assume in two years Project S will still cost $70,000 and produce the same two years of cash flows. a. NPVs = $14,690: NPVT = $109,240 b. NPVs = $8,860: NPVT = $109,240 c. None of these are correct d. NPVs = $40,020: NPVT = $109,240