Your firm has decided that it would like to take only one of the two projects listed below. If your firm's cost of capital is 15%, which project should be taken? Show all of your work to supposrt your decision.
Project 1: [yr0 -$1,000] [yr1 $600] [yr2 $500] [yr 3 $450]
Project 2: [yr0 -$1400] [yr1 $700] [yr2 $600] [yr3 $400] [yr4 $500]