MapleTree Industries has $ $265,000$ to invest. The company is trying to decide between two alternative uses of the funds. The alternatives follows

Project A Project B

Cost of equipment required $$265,000$

Working capital investment required $$265,000$

Annual Cash inflow $$55,650$ $$42,400$

Residue value of equipment in $8$ years $$21,200$

Life of the project $8$ years $8$ years

The working capital needed for project B will be released at the end of eight years for investment elsewhere. Canada Fair Market interest rate is $13\%$

Required:

Which Investment option would you recommend the company to accept? Please show separate calculations and formulas for each project using the NPV method.

$($ Please show me in your answers which of the formula you use for your calculation and no financial calculator or Excel calculation sheet to be used$)$ pls do it accurately with each step.