The following two projects are related to the Shah Corporation. The board of directors is trying to decide which of the following mutually explosive projects should be accepted.

Project I

Year	0	1	2	3	4	5	6	7	8	9	10
CF	-188,000	18,500	19,000	29,500	31,000	35,000	42,000	36,000	55,000	60,000	59,000

Project II

Year	0	1	2	3	4	5	6	7	8	9	10
CF	(188,000)	19,000	28,400	39,400	25,000	32,000	31,000	39,000	52,000	59,000	62,000

Based on the current COVID-19 situation, the firm is willing to accept any project that would produce a minimum rate of return of 4.89%. Which project do you recommend? why? Detailed calculations must be provided to receive full marks. (6 Points)