Your firm is considering investing in one of two mutually exclusive projects.

Your firm is considering investing in one of two mutually exclusive projects. Project A requires an initial outlay of $3500 with expected future cash
flows of $2000 per year for the next three years. Project B requires an initial outlay of $2500 with expected future cash flows of $1500 per year for
the next two years. The appropriate discount rate for your firm is 12% and it is not subject to capital rationing. Assuming both projects can be replaced
with a similar investment at the end of their respective lives compute the NPV of the two chain cycle for Project A and three chain cycle for Project B.

a. $2865 and $94

b. $2232 and $85

c. $5000 and $1500

d. $3528 and $136