3. Farmer Co. is considering Projects S and L, whose cash flows are shown below I hese projects are mutually exclusive, equally risky, and repeatable Year CF CFL WACC: 4 -$950 $600 $700 $2,100 $600 800 900 S700 11% ne suggestion is to use the replacement chain to make the two projects equal in life by repeating Project S at end of the 2d year. If this method is used, which project is to provide a higher NPV in the four-year term? Show the calculations