NPV unequal lives. Grady Enterprises is looking at two project opportunities for a parcel of land the company currently owns. The first project is a restaurant, and the second project is a sports facility. The projected cash flow of the restaurant is an initial cost of $1,580,000 with cash flows over the next six years of $190,000 (year one), $290,000 (year two), $280,000 (years three through five), and $1,780,000 (year six), at which point Grady plans to sell the restaurant. The sports facility has the following cash flows: an initial cost of $2,310,000 with cash flows over the next four years of $450,000 (years one through three) and $2,720,000 (year four), at which point Grady plans to sell the facility. If the appropriate discount rate for the restaurant is 9.5% and the appropriate discount rate for the sports facility is 12.0%, use the NPV to determine which project Grady should choose for the parcel of land. Adjust the NPV for unequal lives with the equivalent annual annuity. Does the decision change? . If the appropriate discount rate for the restaurant is 9.5%, what is the NPV of the restaurant project? $ 453,874.32 (Round to the nearest cent.) If the appropriate discount rate for the sports facility is 12.0%, what is the NPV of the sports facility? $ (Round to the nearest cent.)