The following are the cash flows of two projects:
Year | Project A | Project B
0 | $ (220) | $ (220)
1 | $100 | $120
2 | $100 | $120
3 | $100 | $120
4 | $100 | $120

Which project has a higher net present value assuming a discount rate of 10%?

a) Project A
b) Project B
c) Both have the same net present value
d) Cannot be determined with the given information