The cash flows for two projects, A and $B,$ are shown in the table, below. The cost of capital is $8\%.$ Notice

that Project A has a life of $3$ years and Project B has a $2$ year life. Use the replacement chain approach to

calculate the NPV of each project over a common life$-$span. What is the NPV of the Project A chain minus

the NPV of the Project B chain? Make your answer accurate to $2$ decimal places.

Project Cash Flows