An all-equity firm is considering the following projects:

\fPROJECT A PROJECT 13 Rl\\a2400,000 {x-820,000 Inow year 1 160,000 152,000 Inow year 2 400,000 96,000 Inow year 3 200,000 144,000 Inow year 4 3,120,000 34,000