13. Investment Decision at Jackson's Quality Copies. Refer to the dialogue at Jackson's Quality Copies presented at the beginning of the chapter. What is Julie Jackson proposing? What information did Mike, the accountant, get from Julie to evaluate the proposal? 14. Present Value Calculations. For each of the following independent scenarios, use Figure 5.9 "Present Value of $1 Received at the End of " in the appendix to calculate the present value of the cash flow described. 1. $10,000 will be received 4 years from today. The rate is 10 percent. 2. $10,000 will be received 4 years from today. The rate is 20 percent. 3. $50,000 will be received 15 years from today. The rate is 12 percent. 4. $50,000 will be received 15 years from today. The rate is 6 percent. 15. Present Value Calculations (Annuities). For each of the following independent scenarios, use Figure 5.10 "Present Value of a $1 Annuity Received at the End of Each Period for " in the appendix to calculate the present value of the cash flow described. Round to the nearest dollar. 1. $1,000 will be received at the end of each year for 6 years. The rate is 12 percent. 2. $1,000 will be received at the end of each year for 6 years. The rate is 15 percent. 3. $10,000 will be received at the end of each year for 6 years. The rate is 7 percent. 4. $250,000 will be received at the end of each year for 4 years. The rate is 10 percent. 16. Net Present Value Calculations. Freefall, Inc., has two independent investment opportunities, each requiring an initial investment of $65,000. The company's required rate of return is 8 percent. The cash inflows for each investment are provided as follows. Investment Investment Y Z Year 1 $ 35,000 $ 5,000 Year 2 25,000 15,000 Year 3 15,000 25,000 Year 4 5,000 35,000 Total inflows $ 80,000 $ 80,000Required: 1. Without resorting to calculations, which investment will have the highest net present value? Explain. Calculate the net present value for each investment (remember to include the initial investment cash outow in your calculation). Should the company invest in either investment? Round to the nearest dollar