Net Present Value-Unequal Lives Project 1 requires an original investment of $66,500. The project will yield cash flows of $12,000 per year for seven years. Project 2 has a calculated net present value of $16,400 over a five-year life. Project 1 could be sold at the end of five years for a price of $59,000. Use the Present Value of $1 at Compound Interest and the Present Value of an Annuity of $1 at Compound Interest tables shown below. Year UAWN Present Value of $1 at Compound Interest 6% 10% 12% 15% 20% 0.943 0.909 0.893 0.870 0.833 0.890 0.826 0.797 0.756 0.694 0.840 0.751 0.712 0.658 0.579 0.792 0.683 0.636 0.572 0.482 0.747 0.621 0.567 0.497 0.402 0.705 0.564 0.507 0.432 0.335 0.665 0.513 0.452 0.376 0.279 8 0.627 0.467 0.404 0.327 0.233 0.592 0.558 0.424 0.386 0.361 0.322 0.284 0.247 0.194 0.162 Present Value of an Annuity of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0 .943 0.909 0.893 0.870 0.833 1.833 2.673 3.465 4.212 4.917 1.736 2.487 3.170 3.791 4.355 4.868 5.335 5.759 6.145 1.690 1.626 1.528 2.402 2.283 2.106 3.037 2.855 2.589 3.605 3.352 2.991 4.111 3.784 3.326 4.564 4.160 3.605 4.968 4.487 3.837 5.328 4.772 4.031 5.6505.0194.192 5.582 6.210 6.802 107.360 a. Determine the net present value of Project 1 over a five-year life with residual value, assuming a minimum rate of return of 10%. If required, round to the nearest dollar. b. Which project provides the greatest net present value