$(10$ points $-5$ each$)$ Company #$6$ is considering two new projects, each requiring an equipment investment of $$72,000.$ Each project will last for three years and produce the following annual net income.YearMaryJane$123$$ $8,0009,00014,000$$$31,000$$ $9,0009,0009,000$$$27\mathrm{.}000$The equipment will have no salvage value at the end of its three$-$year life. The company uses straight$-$line depreciation and requires a minimum rate of return of $12\%.$ Present value data are as follows:Present Value of $1$Present Value of an Annuityof $1$Period$12\%$Period$12\%8931\mathrm{.}893\mathrm{.}7971\mathrm{.}6907122\mathrm{.}402$InstructionsCompute the net present value of each project.