6.20 The cash flows for two investment projects are as given in Table P6.20. (a) For project A, find the value of X that makes the equivalent annual receipts equal the equivalent annual disbursement at i = 15%. (b) For A to be preferred over project B, determine the minimum acceptable value of X in year 2 at i 12% based on an AE criterion. TABLE P6.20 Project's Cash Flow 11 B 0 $6,500 -$4,500 $1,000 1 -$1,400 2 X -$1,400 -$1,400 3 $1,000 $1,000 - $1,400