Consider the following cash flows on two mutually exclusive projects:

Year	Project A		Project B
0	$	68,000	$	83,000
1		48,000		47,000
2		43,000		56,000
3		38,000		59,000

The cash flows of Project A are expressed in real terms, whereas those of Project B are expressed in nominal terms. The appropriate nominal discount rate is 11 percent and the inflation rate is 5 percent. Calculate the NPV for each project. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)