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Pedro Spier, the president of Spier Enterprises, is considering two investment opportunities. Because of limited resources, he will be able to invest in only one of them. Project A is to purchase a machine that will enable factory automation; the machine is expected to have a useful life of five years and no salvage value. Project B supports a training program that will improve the skills of employees operating the current equipment. Initial cash expenditures for Project A are $114,000 and for Project B are $32,000. The annual expected cash inflows are $38,119 for Project A and $9,321 for Project B. Both Investments are expected to provide cash flow benefits for the next five years. Spier Enterprises' cost of capital is 6 percent Required a-1. Compute the net present value of each project. (Round your final answers to 2 decimal places.) Project A Project B Net Present Value $ 46,55723 $ 7,260.05