Pedro Spier, the president of Spier Enterprises, is considering two investment opportunities. Because of limited resources, he will be able to invest in only one of them. Project A is to purchase a machine that will enable factory automation; the machine is expected to have a useful life of four years and no salvage value. Project B supports a training program that will improve the skills of employees operating the current equipment. Initial cash expenditures for Project A are $120,000 and for Project B are $40,000. The annual expected cash inflows are $46,355 for Project A and $12,619 for Project B. Both Investments are expected to provide cash flow benefits for the next four years. Spier Enterprises' cost of capital is 6 percent. N Required a-1. Compute the net present value of each project. (Round your final answers to 2 decimal places.) Net Present Value Project A Project B