Suppose your firm has limited capital to invest in new R&D. Two lines of innovation (referred to as projects) have been proposed by managers. Project 1 costs $120,000 up front today, but generates $50,000 in additional profits at the end of each of the next 4 years. Project 2 costs $90,000 in upfront costs, generating an additional $50,000 in profits at the end of each of the next three years. Assume a discount rate of 10%. What is the best estimate of the net present value of Project 1