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37. The Time Clock Co. is trying to decide which one of two projects it should accept. Both projects have the same start-up costs. Project 1 will produce annual cash flows of $61,000 a year for seven years. Project 2 will produce cash flows of $45,000 a year for fourteen years. The company requires an 11 percent rate of return. Which project should the company select and why? a. Project 1; because the annual cash flows are greater during the early years of the project b. Project 1 ; because the present value of its cash inflows exceeds those of project 2 by approximately $111,710 c. Project 2; because the total cash inflows are $203,000 greater than those of project 1 d. Project 2; because the present value of the cash inflows exceeds those of project 1 by approximately $26,740 e. It does not matter as both projects have almost identical values as of today 37. The Time Clock Co. is trying to decide which one of two projects it should accept. Both projects have the same start-up costs. Project 1 will produce annual cash flows of $61,000 a year for seven years. Project 2 will produce cash flows of $45,000 a year for fourteen years. The company requires an 11 percent rate of return. Which project should the company select and why? a. Project 1; because the annual cash flows are greater during the early years of the project b. Project 1 ; because the present value of its cash inflows exceeds those of project 2 by approximately $111,710 c. Project 2; because the total cash inflows are $203,000 greater than those of project 1 d. Project 2; because the present value of the cash inflows exceeds those of project 1 by approximately $26,740 e. It does not matter as both projects have almost identical values as of today