4. Calculate the net present value of projects A and B, assuming discount rates of 0 per cent, 10 per cent and 20 per cent. Initial outlay Year 1 Year 2 Year 3 A ($) 1,200 1,000 500 100 B ($) 1,200 100 600 1,100 0/0/0 Tutorial No.3 - Page 3 of 3 Finance & Investment