Project A requires an original investment of $112,000. The project will yield cash flows of $22,000 per year for nine years. Project B has a calculated net present value of $2,400 over a six-year life. Project A could be sold at the end of six years for a price of $50,000. 

(a) Determine the net present value of Project A over a six-year life with residual value, assuming a minimum rate of return of 12%. 

(b) Which project provides the greatest net present value?