Novak Inc. now has the following two projects available: Project Initial CF After-tax CF 1 2 PMT -12,175.24 -3,483.47 PMT2 5,550 $ 4,050 After-tax CF2 should be chosen. 6,575 Assume that RF = 5.6 percent, risk premium = 11.1 percent, and beta = 1.1. Use the EANPV approach to determine which project Novak Inc. should choose if they are mutually exclusive. (Round cost of capital and final answers to 2 decimal places, e.g.17.35% or 2,513.25.) 3,450 After-tax CF3 10,100