Here are the cash-flow forecasts for two mutually exclusive projects:

	Cash Flows (dollars)
Year	Project A	Project B
0	104	104
1	34	53
2	54	53
3	74	53

a-1.	What is the NPV of each project if the opportunity cost of capital is 2%? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Project	NPV
A	$
B

a-2.

Which project would you choose?

	Project A
	Project B

b-1.	What is the NPV of each project if the opportunity cost of capital is 14%? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Project	NPV
A	$
B

b-2.

Which would you choose?

	Project A
	Project B