A firm is evaluating two mutually exclusive projects that have unequal lives.The firm must evaluate the projects using the annualized net present value approach and recommend which project they should select.The firm's cost of capital has been determined to be 18 percent,and the projects have the following initial investments and cash flows: 
Definitions:
Total Revenue
The overall amount of money generated by a firm from its business activities, typically from the sale of goods and services before any costs are subtracted.
Midpoint Formula
A mathematical method used to calculate the elasticity of demand or supply, measuring the percentage change in quantity relative to a percentage change in price.
Unit Elastic
A situation in which the percentage change in quantity demanded or supplied is exactly equal to the percentage change in price.
Total Revenue
The total revenue produced from the sales of products or services that are central to a company's main business activities.
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