答案c是不是说反了？

NO.PZ201601200500000903

B.

Bolten grinder because its EAA is higher than the Pinto grinder EAA.

C.

Pinto grinder because its EAA is higher than the Bolten grinder EAA.

解释：

C is correct.

Because the mutually exclusive projects have unequal lives, the EAA should be used instead of the NPV. The NPV and EAA for the Pinto grinder are correct. For the Bolten grinder, the NPV is

$NPV=-125,000+\sum_{t=1}^4\frac{47,000}{1.10^t}+\frac{20,000}{1.10^4}=37,644$

To find the Bolten EAA, take the NPV for Bolten and annualize it for four years (N = 4, PV = 37,644, and i = 10%). The Bolten EAA is $11,876. Consequently, the Pinto grinder has the better EAA of $12,341.

pet=11875是p项目啊，不是b项目