The Dickerson PR Firm is considering two mutually exclusive projects with useful lives of 3 and 6 years.The after-tax cash flows for projects S and L are listed below. 
Calculate the equivalent annual annuity for each project assuming a required return of 15%.What decision should be made?
Definitions:
Mark-up
The difference between the cost of a product or service and its selling price, expressed as a percentage of the cost.
Spoilage
Products or materials that have become unfit for sale or use, often leading to financial loss for a business.
Bruising
Physical damage that appears on the skin or body tissues as a result of blunt impact, characterized by discoloration and swelling.
Overhead
The ongoing administrative and operational costs of running a business that are not directly attributable to the production of goods or services.
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