Pedro Spier the president of Spier Enterprises is considering two investment opportunities Because of lenited resources, he will be able to invest in only one of them Project As to purchase a machine that will enable factory automation the machine is expected to have a useful life of three 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 $110.000 and for Project B are $31,000. The annual expected cash inflows are $13.456 for Project A and $13,353 for Project 8 Both investments are expected to provide cash flow benefits for the next three years. Spier Enterprises cost of capital is 8 percent Required 0-1. Compute the net present value of each project. {Round your final answers to 2 decimal places) Tor Present Project A Project B 0-2 Which project should be adopted based on the net present value approach? O Project A Project B b-1 Compute the approximate internal rate of return of each project Inter RAL af en Project A Project b-2 Which one should be adopted based on the internal rate of retum approach? Project B O Project A