Dwight Donovon, the president of Munoz Enterprises, is considering two investment opportunities. The initial cash expenditures for project a are 114,000 and for project b are43,000. The annual expected cash inflows are 44,037 for project a and13,565 for project b. Both investments are expected to provide cash flow benefits for the next four years. Munoz Enterprises' desired rate is 8
1) Project a
2) Project b