Annual cash inflows that will arise from two competing investment projects are given below:

Year	Investment A	Investment B
1	$ 3,000	$6,000
2	4,000	5,000
3	5,000	4,000
4	6,000	3,000
Total	$18,000	$18,000

The discount rate is 8%.

Click here to view Exhibit 11B-1 and Exhibit 11B-2, to determine the appropriate discount factor(s) using tables.

Required:

Compute the present value of the cash inflows for each investment. Each investment opportunity will require the same initial investment. (Use the appropriate table to determine the discount factor(s).)