8. Assume you may choose only one of two projects, either Project ABC or Project DEF. Assume that the Weighted Average Cost of Capital (WACC) is equal to 9.50%. The estimated cash flows associated with Projects: ABC and DEF are cited in the Table Below. a. Calculate the Equivalent Annual Annuity (EAA) and the Net Present Value (NPV) for each project, with and without replacement. Would you maximize shareholder value by accepting project ABC or project DEF? EXPLAIN WHY? ALSO, SHOW YOUR WORK. TABLE BELOW WACC = 9.50% Period PROJECT ABC PROJECT DEF 0 -110 -120 1 80 65 2 80 65 3 80 65 4 65 5 65 6 65 PROJECT ABC PROJECT DEF NPV - No Replacement NPV - With Replacement EAA ACCEPT or REJECT WHY??