NPV unequal lives. Grady Enterprises is looking at two project opportunities for a parcel of land the company currently owns. The first project is a restaurant, and the second project is a

sports facility. The projected cash flow of the restaurant is an initial cost of $$1,540,000$ with cash flows over the next six years of $$230,000($year one$),$ $$270,000($year two$),$ $$270,000($years

three through five$),$ and $$1,790,000($year six$),$ at which point Grady plans to sell the restaurant. The sports facility has the following cash flows: an initial cost of $$2,300,000$ with cash flows

over the next four years of $$440,000($years one through three$)$ and $$3,210,000($year four$),$ at which point Grady plans to sell the facility. If the appropriate discount rate for the restaurant is

$9\mathrm{.}0\%$ and the appropriate discount rate for the sports facility is $12\mathrm{.}0\%,$ use the NPV to determine which project Grady should choose for the parcel of land. Adjust the NPV for unequal lives

with the equivalent annual annuity. Does the decision change? $($Round to the nearest$$ cent.$)$