1. You are the city manager for the city of Seattle. The city is considering hosting three conventions at city-owned and managed facilities, each of which would require the city to incur costs to modify those facilities. The cost of upgrading the facilities would have to be incurred immediately, so that the sponsoring organizations would know that the city was ready to host their events, while the actual conferences wouldn't be held until a later year. A table describing the up- front costs and benefits received in a future year from each of the conferences follows: Benefit, Period | Benefit, Period Benefit, Period 1 25,000 Route Costs, Periodo Association of Tax -20,000 Professionals Gardening Club of -40,000 America Society of Antique -70,000 Car Enthusiasts 55,000 90,000 Costs are incurred at the end of year zero, and benefits accrue at the end of Periods 1, 2, and 3, for each respective alternative, as shown in the table. Suppose that the appropriate discount rate to use is 6%. a. Calculate the NPV, B/C ratio, Payback period, and IRR for each conference option b. Rank the conference options according to NPV, B/C ratio, Payback period, and IRR c. As the prudent and sophisticated financial advisor for the city, which conference(s) would you recommend the city pursue if the city's investment funds were unlimited? Why? d. Which conference(s) you recommend if the city's funds for attracting conferences were limited to $100,000? Why