Net Present Value-Unequal Lives Project 1 requires an original investment of $77,700. The project will yield cash fiows of $20,000 per year for 9 years. Project 2 has a computed net present value of $18,200 over a seven-year life. Project 1 could be sold at the end of seven years for a price of $81,000. Use the Present Value of $1 at Compound Interest and the Present Value of an Annuity of $1 at Compound Interest tables shown below. Present Value of an Annuity of $1 at Compound Interest Present Value of an Annuity of $1 at Combound Interest a. Determine the net present value of Project 1 over a seven-year life with residual value, assuming a minimum rate of return of 20%. If required, round to the nearest doliar. 1. b. Which project provides the greatest net present value