INTERMEDIATE Project Alpha offers the following net cash flows following an initial $($year $0),$ certain outlay $($NINV$)$ of $$70,000$ :

$\backslash$table$[[$Year$,$Net Cash Flow,Certainty Equivalent Factor$],[1,$$$30,000,0\mathrm{.}91],[2,30,000,0\mathrm{.}79],[3,30,000,0\mathrm{.}65],[4,20,000,0\mathrm{.}52],[5,20,000,0\mathrm{.}40],[6,10,000,0\mathrm{.}30]]$

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a$.$ Compute the NPV of this project at a $12$ percent cost of capital.

b$.$ If the risk$-$free rate is $4$ percent, what is the certainty equivalent NPV for Project Alpha?

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