Following is information on two alternative investments being considered by Jolee Company. The company requires a 12% return from its investments. (FV of $1, PV of $1, FVA of $1 and PVA of $1). (Use appropriate factor(s) from the tables provided.)

	Project A					Project B
Initial investment		$	(176,325	)			$	(156,960	)
Expected net cash flows in year:
1			46,000					37,000
2			48,000					58,000
3			82,295					55,000
4			90,400					84,000
5			74,000					23,000

1(a)	For each alternative project compute the net present value.

1(b)	For each alternative project compute the profitability index.