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Your division is considering two investment projects, each of which requires an up-front expenditure of $22 million. Project A will have cash flows of $3 million in year 1, $4 million in year 2, $8 million in year 3, and $18 million in year 4. Project B will have cash flows of $17 million in year 1, $9 million in year 2, $4 million in year 3, and $2 million in year 4.

Assume the projects are independent. What is Project A's net present value, assuming the cost of capital is 16% ? What is Project B's net present value, assuming the cost of capital is 16% ? At this cost of capital, do you accept or reject Project A? At this cost of capital, do you accept or reject Project B? Partial Credit Acceptable answer for BLANK-1 is $1,374,640.35 Responses must be an exact match Acceptable answer for BLANK-2 is $3,010,851.42 Responses must be an exact match Acceptable answer for BLANK-3 is reject Responses must be an exact match Acceptable answer for BLANK-4 is accept Responses must be an exact match