Problem
An investor in Maryland is offered two investment opportunities. Project A is to invest in a small printing operation consisting of a high-speed printing press. The initial cost of the press including installation is $60,000. The press costs $18,000 per year to operate and will bring in an annual income of $48,000. However, the productive life of this press is only three years and can be sold at $24,000 at the end of year 3 to a secondhand dealer. Project B is a small taxicab operation involving four cars to be purchased at $30,000 each. The total operation cost of the four cars is $40,000 per year and the total annual income is $72,000. The useful life of the taxicabs is six years each and their salvage value is $9,000 each. If the MARR of this investor is 10%, which one of the projects if any should he accept? Use the NPW method.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.