You division is considering two investment projects, each of which requires and up front expenditure of $15 million. You estimate that the investments will produce the following net cash flow:
Year Project A Project B
1 $5,000,000 $20,000,000
2 $10,000,000 $10,000,000
3 $20,000,000 $6,000,000
What are the two projects' net present values, assuming the cost of capital is 10%, 5%, 15%?