Two projects required an up- front expenditure of $17 million. Your decision will depend on the project with higher NPV; you estimate that the investments will produce the following net cash flows: Year Project A Project B 1 $ 6,200,000 $ 6,400,000 2 4,000,000 8,200,000 3 8,300,000 5,500,000 Which project would you choose, assuming the cost of capital is 12 percent?
