Tempura, Inc., is considering two projects. Project A requires an investment of $44,000. Estimated annual receipts for 20 years are $21,000; estimated annual costs are $12,500. An alternative project, B, requires an investment of $95,000, has annual receipts for 20 years of $24,000, and has annual costs of $18,000. Assume both projects have a zero salvage value and that MARR is 11.5 %/year.

What is the present worth of each project?