price. In equation form, the NPV is defined as:

$NPV=C{F}_0+\frac{C{F}_1}{(1+r{)}^1}+\frac{C{F}_2}{(1+r{)}^2}+$dots$+\frac{C{F}_N}{(1+r{)}^N}={\displaystyle \underset{t=0}{\overset{N}{}}}\frac{C{F}_t}{(1+r{)}^t}$

NPV$.$

operating working capital requirements, and tax effects are all included in these cash flows. Both projects have $4-$year lives, and they have risk characteristics similar to the firm's average project. Bellinger's WACC is $9\%.$

What is Project A$\text{'}$s NPV$?$ Do not round intermediate calculations. Round your answer to the nearest cent.

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What is Project B$\text{'}$s NPV$?$ Do not round intermediate calculations. Round your answer to the nearest cent.

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If the projects were independent, which project$($s$)$ would be accepted?

If the projects were mutually exclusive, which project$($s$)$ would be accepted?