Net Present Value-Unequal Lives Project 1 requires an original investment of $71,200. The project will yield cash flows of $14,000 per year for seven years. Project 2 has a calculated net present value of $20,500 over a five-year life. Project 1 could be sold at the end of five years for a price of $68,000. 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 Compound Interest a. Determine the net present value of Project 1 over a five-year life with residual value, assuming a minimum rate of return of 12%, If required, round to the nearest dollar. i. x b. Whin project provides the greatest net present value