manufacturing firm is considering two mutually exclusive projects, both of which have an economic service life of one year with no salvage value. The initial cost and the net vear-end revenue for each project are Assume that both projects are statistically independent of each other in the table below EEB Click the icon to view the additional data for each project. (a) If you are an expected-value maximizer, which project would you select? The expected value of NPW of Project 1 is S (Round to the nearest dollar.) The expected value of NPW of Project 2 is (Round to the nearest dollar.) Which project would you select? Choose the correct answer below O Project 2 O Project 1 (b) If you also consider the variance of the project, which project would you select? The variance of NPW of Project 1 is dollars squared. (Round to the nearest whole number) The variance of NPW of Project 2 is dollars squared. (Round to the nearest whole number) Which project would you select considering the expected value of NPW and its variance? Choose the correct answer below 0 A. It is not a clear case B. Project! O C. Project 2 More Info First Cost Project 1 (S1,200) Project 2 (S700) Probability Revenue Probability Revenue 0.20 0.60 0.20 $1,800 2,700 3,400 0.40 0.20 0.40 $3,000 3,500 4,000 Net revenue, given in PW Print Done Click to select your answer(s)