Question: Please solve WITHOUT USING EXCEL. Show all work. Thank you! The company you work for is trying to decide between two projects. Project 1 costs

Please solve WITHOUT USING EXCEL. Show all work. Thank you! Please solve WITHOUT USING EXCEL. Show all work. Thank you! The company

The company you work for is trying to decide between two projects. Project 1 costs $160,000 up front, and has an expected life of 4 years, over which it will return $52,000 each of the four years. Project 2 would last for 20 years, costs $1.5 million up front, and returns $170,000 at the end of each of the 20 years. Assuming a real discount rate of 6%, which project has the higher equivalent annual net benefit

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