Compare and contrast your findings in parts a and b. Which machine would you recommend that the firm acquire? Why? Unequal lives ANPV approach Portland Products in considering the purchase of one of three mutually exclusive projects for increasing production efficiency. The firm plans to use a 14% cost of capital to evaluate these equal-risk projects. The initial investment and annual cash inflows over the life of each project are shown in the following table. Calculate the NPV for each project over its life. Rank the projects in descending order on the basis of NPV. Use the annualized net present value (ANPV) approach to evaluate and rank the project in descending order on the basis of ANPV. Compare and contrast your findings in parts a and b. Which project would you recommend that the firm purchase? Why