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You need to decide between the following two projects: Year Project Project A B. O - $1,033 -$10 1 10 +397 10+463 2 1,062 1,283

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You need to decide between the following two projects: Year Project Project A B. O - $1,033 -$10 1 10 +397 10+463 2 1,062 1,283 3 1,166 1,257 The expected rate of return for either of the two projects is 10 percent. What is the initial investment lo for which Project B is as financially attractive as Project A? Round your answer to 2 decimal places

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