1. The Fairbanks Co. is evaluating the following independent projects. The manager has determined the appropriate discount rate to be 7% for all of the recommended projects. Rank order the projects based on the net present value.

   Year	Project A	Project B	Project C
   0	-2,200	-2,800	-3,500
   1	300	100	2000
   2	800	100	2000
   3	900	2000	300
   4	1500	2000	300

   		A,B,C
   		B,A,C
   		A,C,B
   		C,A,B