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Net Present ValueUnequal Lives Project 1 requires an original investment of $56,600. The project will yield cash flows of $15,000 per year for six years. Project 2 has a calculated net present value of $13,400- over a four-year life. Project 1 could be sold at the end of four years for a price of $68,000. Use the Present Value of $1 at Compound Interest and the Present Value of an Annuity of $1 at Compound Interest tables shown below. Present Value of $1 at Compound Interut Year 5% 10% 12% 15% 20% H 0.943 0.909 0.393 0.870 0.333 2 0.390 0.826 0.797 0.755 0.694 3 0.340 0.751 0.712 0.653 0.579 4 0.792 0.683 0.636 0.572 0.482 5 0.747 0.621 0.567 0.497 0.402 6 0.705 0.564 0.507 0.432 0.335 7 0.655 0.513 0.452 0.375 0.279 8 0.627 0.467 0.404 0 .327 0.233 9 0.592 0.424 0.361 0.234 0.194 10 0.558 0.386 0.322 0.247 0.162 Pruent Value of an Annuity of $1 at Compound Intel-at Year 6% 10% 12% 15% 20% 1 0.943 0. 909 0.393 0 .870 0.333 9 0.592 0.424 0.361 0.284 0.194 10 0.558 0.386 0.322 0.24}ll 0.162 Present Value of an Annuity of $1 at Compound Interest Year 5% 10% 12% 15% 20% H 0.943 0. 909 0.393 0 .870 0.833 2 1.833 1.?36 1.690 1.626 1.528 3 2.6?3 2.48? 2.402 2.283 2.106 4 3.465 3.170 3.03? 2.855 2.589 5 4.212 3.?91 3.605 3.352 2.991 6 4.91? 4.355 4.111 3.?84 3.326 7 5.532 4.868 4.564 4.160 3.605 8 6.210 5.335 4.968 4 .48? 3.83? 9 6.802 5.}'59 5.328 4.?72 4.031 10 7.360 6.145 5.650 5.019 4.192 a. Determine the net present value of Project 1 over a four-year life with residual value, assuming a minimum rate of return of 20%. If required, round to the nearest dollar. $-x