16 17 A local sports franchise playing in a major league has great plans for Alberta. By taking advantage of an economic exuberance era, it is requested construction firms to submit proposals for the construction of a brand new stadium. In fact, three bids have been received Interest rate apr- 3.25% compounded weekly Proposed construction bids Construction schedule(end of period values) Months 1 to 10 bid1 12565500 bid2 11364380 bid3 13740350 Month 11 bid1 24657750 bid2 20650400 bid3 10450740 Month 12 bid1 37750960 bid2 34650780 bid3 32645500 Month 13 to 26 bid1 39504000 bid2 47840640 bid3 40650980 Months 27 to 36 bid1 12565900 bid2 3565450 bid3 13880450 1a) in light of the information above compute the applicable harmonized effective rate(note: please consider a month has 4 weeks) 1b) in light of the information above l, compute the present value of three construction bids 1c) which construction should be chosen