Consider the following two projects:

Project

Year 0

C/F

Year 1

C/F

Year 2

C/F

Year 3

C/F

Year 4

C/F

Year 5

C/F

Year 6

C/F

Year 7

C/F

Discount

Rate

Alpha

79

20

25

30

35

40

N/A

N/A

13%

Beta

80

25

25

25

25

25

25

25

14%

The net present value (NPV) for project alpha is closest to: