using the profit comparision method

Continued... \begin{tabular}{|l|l|l|} \hline Data & Project A & Project B \\ \hline Initial investment outlay & 180,000 & 200,000 \\ \hline Freight charges & 15,000 & 25,000 \\ \hline Set-up charges & 2,000 & 2,000 \\ \hline Economic life (years) & 5 & 5 \\ \hline Salvage value & 12,000 & 17,000 \\ \hline Other fixed costs & 4,000 & 20,000 \\ \hline Production and sales volume & 9,000 & 12,000 \\ \hline Sales price & 10 & 10 \\ \hline Variable costs & 2 & 1.90 \\ \hline Rate of interest (\% per year) & 6 & 6 \\ \hline \end{tabular} Task: Assess the profitability of the two projects and select a project which should be approved. To assess the profitability of the two investment projects, the projects' average revenues and costs must be determined