The Eagles team is evaluating the following mutually exclusive projects. Project Scoreboard and Project Mascot. Project Scoreboard has an initial investment of $800,000 and Project Mascot has an initial investment of $500,000. The cash flows for each project are outlined below. Calculate ANPV for a 11% cost of capital and explain which project the Philadelphia Seagulls should take.

Project Scoreboard $240,000 $210,000 $190,000 $170,000 $140,000 $90,000 $80,000 $50,000 Project Mascot $230,000 $160,000 $145,000 $120,000 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Project Scoreboard $240,000 $210,000 $190,000 $170,000 $140,000 $90,000 $80,000 $50,000 Project Mascot $230,000 $160,000 $145,000 $120,000 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8