Consider projects A and B with the following cash flows:

		C0				C1				C2				C3
A			$	26		+	$	15		+	$	15		+	$	15
B				51		+		26		+		26		+		26

a-1.	What is the NPV of each project if the discount rate is 11%? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Project	NPV
A	$
B	$

a-2.

Which project has the higher NPV?

	Project B
	Project A

b-1.	What is the profitability index of each project? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Project	Profitability index
A
B