Consider the following two projects

Initial Outlay Net cash flow each period

1 2 3 4

PRoject A $ 4000 $2003 $2003 $2003 $2003

PRoject B $4000 $10,736

a, calculate the net present value of each of the above projects, assuming a 14 percent discount rate

b. if 14% is the required rate of the return for these projects, which project is preferred and why?