Quantitative Problem: Bellinger Industries is considering two projects for inclusion in its capital budget, and you have been asked to do the analysis. Both projects' after-tax cash flows are shown on the time line below. Depreciation, salvage values, net operating working capital equirements, and tax effects are all included in these cash flows. Both projects have 4-year lives, and they have risk characteristics similar to the irm's average project. Bellinger's WACC is 11%