You have to projects 1 - 4 Which project has a higher NPV? Project 1 2 3 Cost of capital = 15% . Both projects have an initial outflow of 9500 $ 4 Cash flow for the year, S 1 6500 5000 6500 2 3 4 6200 5000 4600 4500 4000 3000 6800 7000 8000 7000 5000 3800 2000