MapleTree Industries has $265,000 to invest

MapleTree Industries has $ 265,000 to invest. The company is trying to decide between two alternative uses of the funds. The alternatives follows project A Project B Cost of equipment required $265,000 Working capital investment required $265,000 Annual Cash inflow $55,650 $42,400 Residue value of equipment in 8 years $21,200 Life of the project 8 years 8 years The working capital needed for project B will be released at the end of eight years for investment elsewhere. Canada Fair Market interest rate is 13% Required: Which Investment option would you recommend the company to accept? Please show separate calculations and formulas for each project using the NPV method. ( Please show me in your answers which of the formula you use for your calculation and no financial calculator or Excel calculation sheet to be used)