Review Problem $17$ #$8$ algo $($LO$3)$

A company is considering two mutually exclusive investment projects. Each requires an initial investment of $$41,000.$ Project A will generate an annual profit of $$7,600$ for eight years and have a residual value of $$6,600.$ Project B$\text{'}$s profits are more irregular: $$19,100$ in the first year, $$23,000$ in the fifth year, and $$29,000($including the residual value$)$ in the eighth year.

Which project should be chosen if the required return on investment is $8\mathrm{.}0\%$ compounded annually?

$($Click to select$)v$ should be chosen.