Axis Corp, is considering investment in the best of two mutually exclusive

Axis Corp, is considering investment in the best of two mutually exclusive projects Project Kelvin involves an overhaul of the existing system; it will cost $45,000 and generate cash inflows of $20,000 per year for the next 3 years. Project Thompson involves replacement of the existing system; it will cost $275,000 and generate cash inflows of $60,000 per year for 6 years. Using an 8% cost of capital. Calculate each project’s NPV and make recommendation based on findings.