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Here are the cash flows for two mutually exclusive projects:
| Year | 0 | 1 | 2 | 3 |
| A | -20,000 | 7,000 | 7,000 | 10,000 |
| B | -20,000 | 0 | 0 | 25,000 |
If the correct discount rate is 7% how much better off will the firm be if you choose project A over B? Round your answer to two decimal places
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