CALCULATE NPV. USE A RATE OF 6% OR 5%. Which project would you choose?

Project Annual Cash flows:

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8

-$500,000 -$100,000 $0 $50,000 $50,000 $250,000 $250,000 $250,000

Project B Annual Cash flows:

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8

-$600,000 -$200,000 $50,000 $50,000 $50,000 $250,000 $250,000 $500,000