Consider the following cash flows on two mutually exclusive projects:

Cash flows of project A are expressed in real terms, while those of project $B$ are expressed in nominal terms. The appropriate nominal

discount rate is $12\mathrm{.}6$ percent, and inflation is $4\mathrm{.}4$ percent.

a$.$ Calculate the NPV for each project? $($Negative amounts should be indicated by a minus sign. Do not round intermediate

calculations. Round the answers to $2$ decimal places. Omit $ sign in your response.$)$

b$.$ Which project should you choose?

Project A

Project B

None