Lamar bakery is considering the replacement of its old, fully depreciated machine. Two new projects are available: Project L, which has a cost of $70,000, a 3-year expected, and after-tax cash flows of $40,000 per year, and Project J, which has a cost of $90,000, a 6-year life, and after-tax cash flows of $40,000 per year. Assume that both projects can be repeated, and that machine prices are not expected to rise. Assume the company's WACC is 12%. 1. The NPV for Project Jis a. $74,456.29 b. $26,073.25 O $74,456.29 Od-S-26,073 25 e. None of the above a. $18,109.69 b. $2,473.2 O c. $0.01810969 million O d. Both a and c O e. None of the above O Other 3. The Equivalent Annual Annuity for Project Lis O a 18,109.69 O b. $10,855.57 O c. $40,000 d. $8,200 O e None of the above 4. which Project would you accept if they are mutually exclusive?* a Project L since EAAL > EAAJ. O b. Project J since EAAL 0. d. Both projects since EAA of both projects is positive. O e. None of the above