Look at the cash flows for projects F and G given below:

Cash Flows($)
Project	C0			C1		C2		C3		C4		C5		C6		C7		C8		IRR (%)		NPV at 18%
F	(13,000	)		7,200		7,200		7,200		0		0		0		0		0		30.4		2,655
G	(13,000	)		4,200		4,200		4,200		4,200		4,200		4,200		4,200		4,200		27.8		4,126

The cost of capital was assumed to be 18%. Assume that the forecasted cash flows for projects of this type are overstated by 8% on average. That is, the forecast for each cash flow from each project should be reduced by 8%. But a lazy financial manager, unwilling to take the time to argue with the projects sponsors, instructs them to use a discount rate of 26%.

a. What are the projects true NPVs? (Do not round intermediate calculations. Round your answers to nearest dollar amount.)

	NPV at 18%
Project F
Project G

b. What are the NPVs at the 26% discount rate? (Do not round intermediate calculations. Round your answers to nearest dollar amount.)

	NPV at 26%
Project F
Project G