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

a. Calculate the NPV for both projects if the discount rate is 10%. (Do not round intermediate calcualtions. Round your answers to 2 decimal places.)

Project NPV

A ______

B ______

b. Suppose that you can choose only one of these projects. Which would you choose?

1. Project A

2. Project B

3. Neither