Lawson Company is considering two projects. Initial investment Annual cash flows Life of the project Depreciation per year Project A $85,000 $20,676 6 years $14,167 Project B $24,000 $6,011 5 years $4,800 Present value of an annuity of $1 in arrears Periods 8% 0.92593 1.78326 2.57710 3.31213 3.99271 4.62288 5.20637 5.74664 6.24689 6.71008 10% 0.90909 1.73554 2.48685 3.16987 3.79079 4.35526 4.86842 5.33493 5.75902 6.14457 12% 0.89286 1.69005 2.40183 3.03735 3.60478 4.11141 4.56376 4.96764 5.32825 5.65022 14% 0.87719 1.64666 2.32163 2.91371 3.43308 3.88867 4.28830 4.63886 4.94637 5.21612 Suppose that Lawson Company requires a minimum rate of return of 8%. Which project is better in terms of net present value? (Note: Round the NPV values to two decimal places.) a. Project B with NPV of $1,212.52 b. Project B with NPV of $7,756.56 C. Project A with NPV of $4,210.30 d. Project A with NPV of $10,582.67 e. Both projects have the same NPV