Mr. Niort, the CFO of the Lucchese Company, is considering the following two mutually exclusive projects. Mr. Niort uses a weighted average cost of capital of 12% for both projects. Project A Project B Year Cash Flow Year Cash Flow 0 ($25,000) 0 ($30,000) 1 20,000 1 25,000 2 20,000 2 25,000 3 20,000 3 25,000 4 25,000 5 25,000 6 25,000 a) Which project do you advise him to pick using NPV, without adjustment for their life differences? Why? b) Which project do you advise him to pick using NPV, with adjustment for their life differences using the replacement chain? Why?