Smith and Co. has to choose between two mutually exclusive projects. It it chooses project A, Stnith and Co. will have the opportunity to make a similar irvestment in three years. However, if it chooses project B, it will not have the opportunicy to make a second imvestment. The following table lists the cash flows for these projects. If the firm uses the replacernent chain (common life) approach, what will be the difference between the net present value (NPV) of project A and project B, assuming that both projects have a weighted average cost of capital of 12% ? $10,910 $10,071 $16,785 $15,107 $11,750 Smith and Co. is considering a four-year project that has a weighted average cost of capital of 13% and a NPV of $89,567. Smith and Co. can replicate this project indefinitely. What is the equivalent annual annuity (EAA) for this project? $25,595$27,101$28,606$30,112$36,134