Majestic Corporation is considering two mutually exclusive machines that perform the same task. The two alternatives provide the following net investments and net annual cash flows: Year Equipment A -$20,000 12.000 12,000 12,000 0 1 2 3 4 5 6 7 8 9 Equipment B -$20,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 Assume a required rate of return of 15 percent, using replacement chain approach, which project should be selected? Royal Corporation is considering two mutually exclusive machines that perform the same task. The two alternatives provide the following net investments and net annual cash flows: Year 0 1 2 3 4 5 6 Equipment A -$20,000 10,000 10,000 10,000 Equipment B -$20,000 8.000 8,000 8.000 8,000 8,000 8,000 Assume a required rate of return of 12 percent, using equivalent annual annuity approach, which project should be selected