Net Present Value- Unequal Lives Project 1 requires an original investment of $103,600. The project wll yield cash flows of $17,000 per year for nine years. Project 2 has a caloulated net present value of $22,300 over a seven-year life. Project 1 couild be sold at the end of seven years for a price of $82,000. Use the present Value of SI at Compound Interest and the Present Value of an Annuity of Si at Conipood interest tables shown belea. Present Value of $1 at Comspound Interest Year 6% 10% 12% 15% 20% 1 0.93 0.909 0.893 080 0833 2 0.80 0.826 0.797 0756 0.69 3 0.4O 0.751 0.712 0.579 4 0.92 0.683 0.636 572 0.482 5 0.747 0.621 0.567 0497 0.402 7 0.665 0.513 .452 0.376 8 0.627 .467 0.404 .327 9 0.592 0.424 0.361 284 0.279 0.233 0.194 0.162 10 0.558 0.386 0.322 0247 Present Value of an Anuity of $1 at Compound Interest 1 0.943 0.909 0.893 .870 0.833 2 1.833 1.736 1.690 1.626 1.528 3 2.673 2.487 2402 22832.106 7 0.665 0.513 0.452 0.376 0.279 8 0.627 0.467 0.4040.3270.233 0.592 0.4240.361 0.284 0.194 10 0.558 0.386 0.3220.247 0.162 Present Value of an Annuity of $1 at Compound Interest Year 6% 10% 12% 15% 20% 10.943 0.99 0.8930.870 0.833 2 1.833 1.736 1.690 1.626 1.528 3 2.673 2.487 2.402 2.283 2.106 4 3.465 3.170 3.0372.855 2.589 5 4.212 3.791 3.605 3.352 2.991 6 4.917 4.355 4.111 3.784 3.326 7 5.582 4.868 4.564 4.160 3.605 8 6.210 5.335 49684.487 3.837 6.8025.759 5.328 4.772 4.,031 6.210 $,3354.968 10 7.3606.145 5.60 5.019 4.192 nt a. Determine the net present value o Project 1 over a seven-year life with residual value, assuming a minimum rate of return of 10% t required round to the nearest do ar b. Which project provides the greatest net present value