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

Year	Investment A	Investment B
1	$ 5,000	$8,000
2	6,000	7,000
3	7,000	6,000
4	8,000	5,000
Total	$26,000	$26,000

The discount rate is 9%.

Required:

Compute the present value of the cash inflows for each investment. Each investment opportunity will require the same initial investment. (Use Microsoft Excel to calculate present values. Do not round intermediate calculations.)

Investment A: Item Year 1 Cash Inflow Year 2 Cash Inflow Year 3 Cash Inflow Year 4 Cash Inflow NPV of Cash Inflows RATE NPER PMT PV Investment B: Item Year 1 Cash Inflow Year 2 Cash Inflow Year 3 Cash Inflow Year 4 Cash Inflow NPV of Cash Inflows RATE NPER PMT FV PV