Target is considering an investment in the best of two mutually exclusive projects. Project Kelvin involves an overhaul of the existingsystem; it will cost $52,500 and generate cash inflows of $25,000 per year for the next 3 years. Project Thompson involves replacement of the existingsystem; it will cost $265,000 and generate cash inflows of $50,000 per year for 6 years. Usinga 9.15% cost ofcapital, calculate eachproject's NPV.

The NPV of project Kelvin is $