Martinez Company has hired a consultant to propose a way to increase the companys revenues. The consultant has evaluated two mutually exclusive projects with the following information provided for each:

		Project Turtle			Project Snake
Capital investment		$1,150,000			$670,000
Annual cash flows		189,000			114,000
Estimated useful life		10 years			10 years

Martinez Company uses a discount rate of 9% to evaluate both projects. Click here to view PV tables.

(a)

Calculate the net present value of both projects. (Use the above table.) (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275.)

		Project Turtle		Project Snake
Net present value		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places