The following table shows the receipts and disbursements for a given venture. Determine the desirability of the venture for a 14% interest rate, based on the present equivalent comparison and the annual equivalent comparison.

End of the Year Receipts($) Disbursements($)

0 0 20,000

1 6,000 0

2 5,000 4,000

3 5,000 0

4 12,000 1,000