Example 10: A firm is considering two engineering projects with cash flow estimated to be as follows: Project 1 Project 2 Investment $6,000 $8,000 Project Life 5 years 5 years Annual Revenue $5,200 $6,000 Annual Cost $2,100 $1,800 Salvage Value $1,000 $1,500 The MARR is 10%. Which project has a higher present value ( P)