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Consider the following cash flows on two mutually exclusive projects: Year Project A Project B 0 $ 61,000 $ 76,000 1 41,000 40,000 2 36,000

Consider the following cash flows on two mutually exclusive projects:

Year Project A Project B
0 $ 61,000 $ 76,000
1 41,000 40,000
2 36,000 49,000
3 31,000 52,000

The 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 percent and the inflation rate is 3 percent. Calculate the NPV for each project. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

NPV
Project A $
Project B $

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