Tempura, Inc., is considering two projects. Project A requires an investment of $54,000. Estimated annual receipts for 20 years are $20,000; estimated annual costs are $12,500. An alternative project, B, requires an investment of $81,000, has annual receipts for 20 years of $28,000, and has annual costs of $18,000. Assume both projects have a zero salvage value and that MARR is 8.0 %/year.

What is the present worth of each project?